Friday, April 10, 2009

Elsie Law's Daily Dose Of The Law

Several U.S. companies have combined to file a lawsuit against China, in one of the largest legal proceedings of its kind ever.

According to The Wall Street Journal, seven American steel corporations and the United Steelworkers Union are suing China in an "anti-dumping suit" that covers $2.7 billion worth of imports.

The plaintiffs claim that China's steelmakers have unfairly dumped less-costly steel onto the U.S. Market, causing the American market to crash. However, The Wall Street Journal states that this case will be tough for the U.S. steel corporations to prove because: "At the time of some of the alleged dumping, some steelmakers were still recording strong quarterly profits."

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