JSW Steel files lawsuit against 3 largest steelmakers in US
JSW Steel has filed a lawsuit against U.S. Steel Corp., Nucor Corp. and Cleveland-Cliffs Inc. in U.S. District Court, Southern District of Texas (Houston). Reportedly, the three companies control more than 80 percent of the domestic steelmaking capacity. The three companies conspired to cause direct harm to JSW Steel, according to a lawsuit filed in Houston.
According to the report, after the imposition of tariffs, JSW Steel wasn't able to get the raw material from suppliers outside and the American suppliers also refused to supply metal which led to a surge in its cost, JSW said.
"When the tariffs were imposed we were working hard at getting exclusions and these companies had said: 'Don't worry about it, you don't need an exclusion to bring in slabs, we can supply all you need,'" JSW board member John Hritz had said in an interview. "We went down that road with them, and we tried our best to work with them, but never once did they ever supply us slabs."
While JSW steel earlier supported Trump's tariffs, it later sued the administration saying that the U.S. Commerce Department wrongfully denied waivers for steel-slab raw materials, forcing the steel processor to pay tens of millions of dollars in tariffs.