21
Oct
12:19
Borusan Mannesmann Pipe reaches US tax refund agreement
Borusan Mannesmann will be refunded $14 million after the United States Court of International Trade ruled that the US increasing taxes for only one country from 25% to 50% was illegal.
The court ordered the refund of the additional 25% taxes in the "Transpacific Steel LLC v. United States" case ruling made on 14 July. The case is one of the four lawsuits Borusan Mannesmann is a party to.
The US administration has appealed the decision and req…
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Very good overview of the weekly steel market.
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