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U.S. Commerce Department Imposes Preliminary Duties on Imported Steels From China, Other Countries
11/04/2015 - The U.S. Department of Commerce has set preliminary duties of up to nearly 236 percent on corrosion-resistant sheet steel imported from China steel and is continuing to evaluate additional protections for American producers.
On 3 November, the Commerce Department ruled that imports of corrosion-resistant steel from China, as well as from India, Italy and South Korea, appear to be benefitting from unfair government subsidies and should be subjected to countervailing duties.
The department said it will next make preliminary anti-dumping determinations, which are due out on 21 December.
The action follows complaints from United States Steel Corporation, Nucor Corp., Steel Dynamics Inc., ArcelorMittal USA, AK Steel Corp. and California Steel Industries Inc.
In a statement, AK Steel chairman and CEO James L. Wainscott said the company is happy with the decision.
"These determinations are an important step in ensuring that our foreign competitors play by the rules of fair trade. Action is urgently needed to counteract the significant injury that is being caused by unfairly traded imports."
A final decision is due 18 January.
A U. S. Steel spokeswoman told The Wall Street Journal that the tariffs are “a good first step” and that the company is looking forward to the next decision, “encouraged that our federal agencies tasked with this critical oversight and enforcement of our trade laws will halt these harmful, illegal and unfair practices.”
The Journal reported that, overall, America's steel imports are down slightly this year, but have increased significantly for certain key steel products, including corrosion-resistant steel.
The preliminary decision sets duties of up to 235.66 percent on imports from China and duties of up to 7.71 percent on imports from India.
South Korean companies are facing duties of up to 1.37 percent, and Italian companies are facing duties of up to 38.41 percent. Taiwan also was named in the complaint, but the department decided against duties on corrosion-resistant steel from that country.
According to the Reuters news service, more than US$1.5 billion worth of steel coated with metals including zinc and aluminum was imported from the affected countries in 2014.
The department said it will next make preliminary anti-dumping determinations, which are due out on 21 December.
The action follows complaints from United States Steel Corporation, Nucor Corp., Steel Dynamics Inc., ArcelorMittal USA, AK Steel Corp. and California Steel Industries Inc.
In a statement, AK Steel chairman and CEO James L. Wainscott said the company is happy with the decision.
"These determinations are an important step in ensuring that our foreign competitors play by the rules of fair trade. Action is urgently needed to counteract the significant injury that is being caused by unfairly traded imports."
A final decision is due 18 January.
A U. S. Steel spokeswoman told The Wall Street Journal that the tariffs are “a good first step” and that the company is looking forward to the next decision, “encouraged that our federal agencies tasked with this critical oversight and enforcement of our trade laws will halt these harmful, illegal and unfair practices.”
The Journal reported that, overall, America's steel imports are down slightly this year, but have increased significantly for certain key steel products, including corrosion-resistant steel.
The preliminary decision sets duties of up to 235.66 percent on imports from China and duties of up to 7.71 percent on imports from India.
South Korean companies are facing duties of up to 1.37 percent, and Italian companies are facing duties of up to 38.41 percent. Taiwan also was named in the complaint, but the department decided against duties on corrosion-resistant steel from that country.
According to the Reuters news service, more than US$1.5 billion worth of steel coated with metals including zinc and aluminum was imported from the affected countries in 2014.
