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. Last Updated: 07/27/2016

Japan, U.S. Disagree on Steel

TOKYO -- Japan and the United States failed to reach a compromise in their escalating steel dispute during a one-day, bilateral meeting Thursday, the Ministry of International Trade and Industry said.

Japan expressed concern to visiting U.S. Undersecretary of Commerce for International Trade David Aaron over a slew of anti-dumping rulings Washington has placed on almost all steel products from Japan, a MITI official said.

The Japanese side called such behavior "abnormal" considering that Japanese steel exports to the United States in 1999 have returned to normal levels, an official said on condition of anonymity.

Japan's steel exports to the United States surged in 1998 but have since begun to drop.

In June, the level fell 59.2 percent from the same month last year to 16.25 billion yen ($140 million).

Aaron responded by saying that steel exports from Japan and other countries last year were destroying the U.S. steel industry, the MITI official said.

He also noted that falling Japanese steel export prices in 1998 led to a subsequent drop in prices for steel from Russia, which had been either flat or rising.