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US Commerce Puts New Duties On Imported Steel

by Mike Godfrey, Tax-News.com, Washington

18 December 2015


On December 16, the US Department of Commerce (Commerce) announced its affirmative preliminary determinations that imports of cold-rolled steel from Brazil, China, India, and Russia are benefiting from government subsidies and should be subject to countervailing duties (CVDs).

As a result, Commerce will instruct US Customs and Border Protection to begin requiring US importers from these four countries to make cash deposits based on the preliminary CVDs at the time of importation.

Commerce has calculated preliminary CVDs on imports from Brazil at 7.42 percent; from China at 227.29 percent; from India at 4.45 percent; and from Russia at up to 6.33 percent. Imports from South Korea were also investigated, but Commerce found that its countervailable government subsidies were not in excess of the de minimis level of one percent.

Commerce intends to announce its final CVD determinations, and its final determinations in its concurrent antidumping duty (AD) investigations, on or around May 10, 2016. The US International Trade Commission is also expected to make its final determinations in May next year.

James Wainscott, Chairman, President, and CEO of AK Steel, which led the CVD and AD petitions sent to Commerce, said the US steel industry "continues to suffer devastating injury caused by dumped and subsidized imports. Today's preliminary ruling is yet another important step in stopping the flood of these unfairly traded imports."

This is one of a number of current global trade disputes in the steel sector. Examples include the CVDs and ADs confirmed on imports into the United States of non-oriented electrical steel from China, Germany, Japan, South Korea, Sweden, and Taiwan, and on imports of welded line pipe from South Korea and Turkey.

China's Ministry of Commerce is running an AD investigation into grain-oriented flat-rolled electrical steel (GOES) imported from Japan, South Korea, and the European Union (EU), while the EU has also put provisional AD duties on GOES imports from China, Japan, South Korea, US, and Russia.

Last year, the United States imposed AD duties on imports of non-oriented electrical steel from China, Germany, Japan, South Korea, Sweden, and Taiwan, together with CVDs on imports from China and Taiwan.

TAGS: Russia | tax | India | tariffs | anti-dumping | China | manufacturing | trade disputes | Brazil | United States | import duty | trade

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