The US Department of Commerce announced antidumping duties against Canadian fabricated structural steel imports (FSS), and both antidumping and countervailing duties on FSS imports from China and Mexico.
Commerce found that producers and exporters from the Canada, China, and Mexico sold FSS in the US below fair value at rates of 0-6.70pc, 61.71-154.14pc, and 0-30.58pc, respectively. The US International Trade Commission is set to make its determinations of whether or not the three countries injured the domestic industry by March 9, 2020. If it rules affirmatively, cash despots equal to the final AD and CVD rates will be collected.
In 2018, the US imported 421,383mt of Chinese FSS worth an estimated at $897.5mn. That year, it also imported 234,553mt from Canada estimated at $722.5mn, and 290,007mt from Mexico for around $622.4 million.
The timing of Commerce’s ruling is sensitive because the US, Canada, and Mexico are scheduled to sign their new trade deal next week. Additionally, the US and China have been embroiled in a bitter trade dispute of their own, which has shown some signs of abating after the Phase One deal between the two countries was signed last week.
Commerce opened its investigation into FSS imports from the three countries after being petitioned by the American Institute of Steel Construction.