The U.S. has said it will adjust an agreement on Russian hot-rolled steel products sales in the country, the United States Department of Commerce said on Friday.
The agreement will be adjusted as it has failed to prevent sales of Russian hot-rolled steel products in the U.S. at a price below the fixed minimum, the department said in a statement.
The U.S. conducted an investigation against Russian makers of hot-rolled steel products in 1998.
In summer 1999, the two countries signed an agreement setting import quotas for certain types of steel products to the United States and a floor price for the Russian steel products.
U.S. steelmaker Nucor Corporation filed a request to adjust the agreement, the department added.