According to Reuters, U.S. regulators on Thursday launched an investigation following accusations by United States Steel Corp that Chinese competitors stole its secrets and fixed prices.
Based on a statement by The International Trade Commission (ITC) there has not made any decisions on the merits of the case.
U.S. Steel, in its complaint under section 337 of the main U.S. tariff law, is seeking to stop the majority of imports from China's largest steel producers and trading houses.
ITC identified 40 Chinese steelmakers and distribution subsidiaries as respondents, including Baosteel Group, Hebei Iron and Steel Group, Wuhan Iron and Steel Co Ltd, Maanshan Iron and Steel Group, Anshan Iron and Steel Group and Jiangsu Shagang Group.
U.S. Steel filed its original complaint a month ago, stating that it was a victim of a 2011 computer hacking incident that also prompted U.S. federal cyber-espionage indictments against five Chinese military officials in 2014.
The Pittsburgh-based producer stated that hackers stole research data on production techniques for a new generation of lightweight, high-strength steel now favored by automakers. It said this accelerated Chinese competitor Baosteel's ability to replicate the product, which took U.S. Steel nearly a decade of researches and development.
Source: Reuters
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