WTO Says U.S. Steel Tarrifs Run Afoul Of International Rules

United States Steel Corp.

fell more than 5 percent Monday after two key cases after the World Trade Organization sided with China and India in two separate tariff disputes with the U.S. Several other U.S. steel manufactures also fell more than 2 percent on the news, including AK Steel Holding Corp.

and Steel Dynamics Inc.

. A WTO dispute settlement panel in Geneva, said U.S. duties on steel and solar panels imported from China were contrary to international rules. In a separate case, the organization said duties imposed on steel made in India don't match trade agreements signed by the U.S. U.S. Trade Representative Michael Froman said in a statement that the U.S. is studying the findings regarding India and "will evaluate all options to ensure that U.S. remedies against unfair subsidies remain strong and effective." Froman's office didn't have an immediate statement regarding the finding on China. United States Steel traded recently at $26.24, down 5 percent; AK Steel changed hands at 8.18, down 2.5 percent and Steel Dynamics was at $17.83, down 2.03 percent.