On October 17, the United States Department of Commerce informed the Russian Federation's Ministry of Economic Development that the United States would terminate the suspension agreement on hot-rolled, flat-rolled, carbon quality steel from Russia within 60 days. The agreement was created to prevent dumping and encourage fair trade between Russia and the United States by setting a cap on the amount of hot-rolled steel that could be imported into the United States from Russia and establishing a minimum price for those imports in lieu of imposing antidumping duties. The parties originally signed the agreement on July 12, 1999; it was then updated in 2012. However, in July 2012, several U.S. steel producers requested that Commerce "scrap the deal" because "the agreement had not prevented price undercutting by Russian imports since at least 2004."
The termination of the suspension agreement will take effect on December 16, 2014. Once the suspension agreement is terminated, the antidumping duties from the original investigation conducted in 1999 will take effect immediately. The Russian steelmakers are expected to have dumping margins from 73.59 to 184.56 percent on imports of hot-rolled, flat-rolled steel, based on dumping margins confirmed in the second sunset review of the antidumping duty order. The American Iron and Steel Institute welcomes the decision, stating that "our industry should not have to endure injury from surging imports of Russian hot-rolled steel that are coming into this country under a deal that no longer serves its intended purpose."