U.S. Steel Tariffs Illegal, WTO Rules

From Bloomberg News

The World Trade Organization handed down a final ruling confirming that U.S. tariffs imposed more than 13 months ago to shelter U.S. steelmakers from imports are illegal.

The decision by a three-member panel at the trade arbiter confirms a preliminary March 26 decision and may undercut the ability of companies such as U.S. Steel Corp. and International Steel Group Inc. to reduce production and labor costs while raising prices. The U.S. said it would appeal.