Trade Cases
South Korean Mill Suspends Shipments to the U.S.
Written by Tim Triplett
March 15, 2018
Anticipating the U.S. Commerce Department will soon begin considering applications for exemptions from the Trump administration tariffs on steel and aluminum, South Korea’s Dongkuk Steel has reportedly suspended its April exports to the United States.
Reuters quoted a company spokesman who said the steelmaker has put its exports to the U.S. temporarily on hold while the South Korean government seeks a waiver from the tariffs. “We will make clear what our stance is,” said Finance Minister Kim Dong-yeon. “We will deploy all possible means to respond to the U.S. steel tariffs measure.”
Dongkuk produces steel plate and sections, cold rolled, galvanized and prepainted sheet, and rebar. The steelmaker reportedly exported $122 million worth of product to the U.S. last year. Steel from South Korea is already subject to an 8.75 percent antidumping duty from the U.S. The additional 25 percent tariff is due to take effect March 23.
Tim Triplett
Read more from Tim TriplettLatest in Trade Cases
Industry piles on new Section 232 steel derivative inclusion requests
The Department of Commerce received 97 submissions from producers, manufacturers, and groups seeking Section 232 tariff coverage for steel and aluminum derivative products.
Price on Trade: New EU steel tariffs don’t mean the US should weaken its stance
Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.
Global steel forum sets 2026 framework deadline as US ups pressure on excess capacity
Global steelmakers sounded the alarm Friday over the deepening excess steelmaking capacity crisis. Ministers at the Global Forum on Steel Excess Capacity (GFSEC) in Gqeberha, South Africa, pledged to...
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.