Oct. 3 (Bloomberg) -- The U.S. Supreme Court turned away two steel-industry appeals that challenged the method used by federal officials to calculate the duties imposed when imports are sold in the U.S. at less than their fair value.
The justices today rejected appeals by Nucor Corp. and U.S. Steel Corp., leaving intact a lower court ruling that upheld the Commerce Department formula in a dispute over steel duties. The department adopted its approach after the World Trade Organization said an earlier U.S. methodology, known as “zeroing,” violated global trade regulations.
Nucor and U.S. Steel said the new method didn’t go far enough to address dumping, the practice of selling goods in another country at a loss. Trade groups representing the U.S. lumber and shrimp industries backed the appeal.
The Commerce Department determines duties by comparing the price of a product in the U.S. with the price in the exporter’s domestic market. Zeroing excluded some market data in that calculation in a way that led to higher duties.
The cases are United States Steel v. United States, 10- 1433, and Nucor v. United States, 10-1439.
--Editors: Justin Blum, Bob Drummond.
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