The U.S. Department of Commerce has completed the first accelerated review of countervailing duties on Brazilian cold-rolled steel and Korean hot-rolled steel. The authorities maintain the countervailing duties imposed on these two products.
As part of the tariff review on Brazilian cold rolled steel launched on June 1, 2021, the US Department of Commerce found that the abolition of countervailing duties is likely to lead to the continuation or reappearance of countervailing subsidies. In September 2016, the U.S. Department of Commerce set a tariff of 11.09% on Usiminas, 11.31% for the Brazilian National Ferrous Metals Corporation (CSN), and 11.2% for other manufacturers. The products reviewed are cold rolled steel, flat steel, whether it is annealed, painted, plastic or any other non-metallic coated steel.
The Ministry of Commerce also decided to retain the countervailing duty imposed on Korean hot-rolled steel in October 2016. POSCO’s tariff is 41.64%, Hyundai Steel’s 3.98%, and other companies’ tariffs are 3.89%. The first accelerated review will begin on September 1, 2021.
Post time: Jan-06-2022