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US To Investigate Ten Countries' Steel Exports

by Mike Godfrey, Tax-News.com, Washington

21 April 2017


The Department of Commerce has initiated a wide-ranging antidumping duty (AD) and countervailing duty (CVD) investigation into imports of carbon and alloy steel wire rod from ten countries.

The investigation covers Belarus, Italy, Korea, Russia, South Africa, Spain, Turkey, Ukraine, the United Arab Emirates (UAE), and the UK. Whilst all ten countries are subject to AD investigations, only Italy and Turkey are subject to CVD investigations over unfair subsidies.

The alleged dumping margins for Belarus are 161.75 percent to 280.02 percent, Italy 18.89 percent, Korea 33.96 percent to 43.25 percent, Russia 214.06 percent to 756.93 percent, South Africa 128.66 percent to 142.26 percent, Spain 32.70 percent, Turkey 37.67 percent, Ukraine 21.23 percent to 44.03 percent, UAE 84.10 percent, and the UK 147.63 percent.

Commerce Secretary Wilbur Ross said: "The Department of Commerce will act swiftly to halt any possible unfair trade practices against US companies while also assuring a full and fair assessment of the facts."

The US International Trade Commission (USITC) is scheduled to make its preliminary injury assessment by May 12. If there is a reasonable indication that these imports are causing injury to the US industry, Commerce will announce its preliminary CVD determinations in June 2017 and AD determinations in September 2017.

Further to this, USITC has newly determined that ferro vanadium, used to strengthen steel, from Korea is being sold at less than fair value into the US. Commerce will now issue an AD order on affected imports in due course.

TAGS: Russia | South Africa | United Arab Emirates | Belarus | Italy | Korea, South | Spain | trade | Turkey | Ukraine | Africa

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