The US Department of Commerce has imposed preliminary countervailing duties (CVD) for certain cut-to-length steel from South Korea for the period of review (POR) January 1, 2019, to December 31, 2019.
In a notification released on Tuesday, Commerce noted an investigation revealed that South Korea had received unfair subsidies for the subject merchandise exported to the US during the POR.
Commerce has therefore issued a CVD of 0.50pc on BDP International and Sung Jin Steel, 0.45pc on Hyundai Steel, and 0.28pc on Dongkuk Steel Mill.
Following the publishing of the final results, Commerce intends to instruct Customs Border Protection (CBP) to collect cash deposits of estimated CVD on the four companies. The CBP will continue to collect the previously stated amount for CVD for firms not reviewed.