Trade Cases
Commerce revises AD/CVD rates on Korean galv
Written by Laura Miller
August 13, 2024
The Department of Commerce’s International Trade Administration issued the preliminary results of administrative reviews of the antidumping and countervailing duties (AD/CVDs) on corrosion-resistant steel (CORE) products from South Korea.
The preliminary results are mixed. Some companies’ dumping rates were adjusted upward, and some downward, while most countervailable subsidy rates ticked higher.
ITA intends to issue the final results of both reviews by Dec. 10.
Recall that South Korea has an absolute quota in place in lieu of Section 232 tariffs. Its 2024 hard limit is 183,326 short tons (st) of hot-dipped galvanized flat-rolled products and 210,366 st of coated flat-rolled products. Quarterly quotas are also in place. These limits can not be surpassed; excess material must be warehoused or shipped out of the country until the quarterly quota resets.
AD
Commerce preliminarily found that certain CORE products from Korea were sold in the US at prices below normal value during the one-year period of July 1, 2022, through June 30, 2023.
| Period of review | 2022 calendar year | 2021 calendar year |
|---|---|---|
| Producer/exporter | ||
| Dongbu companies | 5.49% | 6.48% |
| Hyundai companies | 0.80% | 0.82% |
| Posco companies | 2.68% | 1.60% |
| SeAH companies | 2.68% | 1.60% |
Source: Department of Commerce’s International Trade Administration
CVD
Commerce’s preliminary determination is that countervailable subsidies are still being provided to CORE producers and exporters in Korea.
| Period of review | July 1, 2022 to June 30, 2023 | July 1, 2021 to June 30, 2022 |
|---|---|---|
| Producer/exporter | ||
| Dongbu companies | 1.74% | 0.53% |
| Dongkuk companies | 1.74% | 0.53% |
| Hyundai companies | 0% | 0% |
| Posco companies | 1.74% | 0.53% |
| SeAH companies | 1.74% | 0.53% |
Source: Department of Commerce’s International Trade Administration
The CVD rate for the Hyundai group of companies continues to be 0% as it has had no shipments to review during the review periods.
Editor’s note: This story has been updated to reflect that South Korea has an absolute hard quota in place and not a tariff-rate quota, as was originally published.
Laura Miller
Read more from Laura MillerLatest in Trade Cases
Price on Trade: Auto tariffs, auto parts, and Hyundai – a world of rapid changes
Trump's new auto tariffs will apply to passenger vehicles (including sedans, sport utility vehicles, crossover utility vehicles, minivans, and cargo vans), light trucks, and certain automobile parts (including engines and engine parts, transmissions and powertrain parts, and electrical components).
CRU: Canacero urges Mexico-US partnership to fend off Asian steel imports
Victor Cairo, head of Mexico’s steel sector body Canacero and CEO of ArcelorMittal Mexico, says he is confident negotiations between the Mexican and US governments planned for April 2 will lead to the creation of a regional block to substitute imports, especially from Asia.
US chassis makers seek duties on imports from Mexico, Thailand, and Vietnam
Upon the request of US chassis manufacturers, the Commerce Department this week initiated investigations into the alleged dumping and subsidization of chassis imported from Mexico, Thailand, and Vietnam.
European Commission eyes stricter limit on tariff-free steel imports
The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.
Trump says exceptions could exist on reciprocal tariffs
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.