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US To Introduce New Dumping Duties On Foreign Steel

by Mike Godfrey, Tax-News.com, Washington

03 April 2017


The United States is to levy anti-dumping duties on exports of carbon and alloy steel plate from Austria, Belgium, France, Germany, Italy, Japan, South Korea, and Taiwan.

Dumping concerns the sale of goods to a foreign market at prices below domestic market prices.

For those companies that failed to partake in the Department of Commerce's investigation, the duties will range from 3.62 percent to 148.02 percent. For three unspecified countries, duties will be collected retroactively to August 16, 2016, and Korean producers will be subject to an additional countervailing duty rate of 4.31 percent.

As a result of these final affirmative determinations, Commerce will instruct US Customs and Border Protection (CBP) to collect cash deposits based on these final rates.

The US International Trade Commission is scheduled to make its final injury determinations on or about May 15. If the ITC finds injury, Commerce will issue AD and/or CVD orders. If the ITC's determinations are negative, the investigations will be terminated, and all collected cash deposits will be returned.

"A healthy steel industry is critical to our economy and manufacturing base, yet our steel industry today is under assault from foreign producers that dump and subsidize their exports," said US Secretary of Commerce Wilbur Ross. "After a thorough investigation, the Department of Commerce has found that exporters of steel plate have received government subsidies and sold at unfairly low prices in the United States. The Trump Administration is unequivocally committed to the vigorous enforcement of America's trade laws, including the finding of critical circumstances and the retroactive collection of duties when appropriate. We will ensure US businesses and workers are treated fairly."

Separately, the USITC determined that Korean exports of phosphor copper are being sold in the US at less than fair value. As a result of the USITC's affirmative determination, Commerce will issue an antidumping duty order on imports of this product from Korea.

TAGS: business | Belgium | law | anti-dumping | Taiwan | enforcement | manufacturing | Austria | France | Germany | Italy | Korea, South | United States | trade | Japan

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