US – Lead and Bismuth II United States – Imposition of countervailing duties on certain hot-rolled lead and Bismuth carbon steel products originating in the United Kingdom: Here today, gone tomorrow? Privatization and the injury caused by non-recurring subsidies

Facts of the case In 1993, the US Department of Commerce began to levy countervailing duties on imports of certain leaded bars from the United Kingdom. The United States applied tariffs to goods imported from British Steel Engineering Steels, a subsidiary of British Steel plc. Following investigations by the US Department of Commerce and the United States International Trade Commission, the US authorities held that the imposition of duties was both required by Section 701 of the Tariff Act of 1930 (as amended) and not in violation of any of the country's obligations as a member of the World Trade Organization. In its investigation of the domestic industry's petition for countervailing duties, the US Department of Commerce determined that British Steel Engineering Steels was the owner of assets that originally belonged to British Steel Corporation, a former state-owned company in the United Kingdom. According to the US Department of Commerce, British Steel Corporation received equity infusions and outright grants from the British government totaling £7 billion between 1977 and 1986 that were used to develop capacity for producing leaded bars. In 1986, British Steel Corporation joined with the privately owned Guest, Keen, and Nettlefolds to create a joint venture known as United Engineering Steels Limited. Both British Steel Corporation and Guest, Keen, and Nettlefolds contributed assets to United Engineering Steels Ltd., including the assets for producing leaded bars that were formerly held by British Steel Corporation.