U.S. to Impose Steel Tariffs of up to 148 percent

ArcelorMittal USA appears to have won another big trade case.

The U.S. Department of Commerce found Austria, Belgium, France, Germany, Italy, Japan, Republic of Korea and Taiwan dumped or illegally subsidized steel that was sold in the United States.

The federal agency recommended anti-dumping and countervailing tariffs of up to 148 percent on cut-to-length plate from eight countries.

U.S. Customs and Border Protection will immediately start collecting tariffs of at least 3.62 percent on imports from those countries.

Chicago-based ArcelorMittal USA, Nucor and SSAB requested the investigation on carbon and alloy steel hot-rolled or forged flat plate products from those eight countries, which shipped more than $732 million worth of such products last year.