A history of positive response

2001 was a dramatic year. The 9/11 disaster and the burst of the dot.com bubble sent strong negative messages rippling through the economy. Many American companies sought refuge under ‘Chapter 11’, which afforded them protection against possible bankruptcy. There was a concurrent impact on exports to the US, which affected steel makers elsewhere.

As a response to this business environment, on 5th March 2002 the US administration announced that under Section 201 of the US Trade Act it would impose a three-year safeguard duty on steel imports, which in practice meant tariffs of up to 30% on steel supplied from IJmuiden into the US. With over half a million tonnes of high-quality steel products supplied from the Netherlands to a stable group of US customers, this presented a major threat to IJmuiden’s market position.

The first response was to assure US customers that Corus IJmuiden would do everything to keep them supplied. Already well-versed in legal battles with the US administration, IJmuiden stepped up its efforts. The basis of this confrontation revolved around the fact that much of the material that IJmuiden supplied simply could not be produced by US mills because of its specific physical properties and qualities. Politicians, ambassadors, US governors and the American customers played vital roles in keeping the trade channel open.

In order to continue dedicated services to its US customers, which in most cases had a history as far back as the 1960s, the plant in IJmuiden was able to secure a minimum lifeline to meet its customers’ delivery needs. This included securing emergency supplies from other plants, in some cases. In May 2003 the US president withdrew the Section 201 tariffs.

A history of providing unique products along with the united defence against the trade restrictions served to reinforce the very valuable bond between US customers and Corus in IJmuiden.