US to pose tariff again right after exemption on steel tariff
Park Jung Il | comja77@ | 2018-05-03 13:42:23
The US has been complaining about its domestic steel industry by making another anti - dumping judgment on Korean steel products the day right after the United States revealed Korea as a 232 - tariff waiver nation through the Trade Expansion Act.
The US International Trade Commission (USITC) has ruled on May 1 (local time) that Korean carbon and alloy steel wire rod products are damaging the US steel industry. Accordingly, 41.1% of anti-dumping duties are imposed on carbon steel wire rod and alloy steel wire rod products exported to Korea by Korean steel companies including POSCO.
The trade ministry stated in its statement that it made the decision in the final stages of the anti-dumping and countervailing duty investigation on carbon and alloy steel wire imports from five countries including Italy, Turkey, Spain and the United Kingdom. According to industry experts, steelmakers are likely to ask the US authorities to review the case in the past.
The highest anti-dumping duties are 147.63% for UK products and 11.08-32.64% for Spain and 12.41-18.89% for Italy. The tariff rate for Turkish products is the lowest at 4.74% to 7.94%. The move came just days after President Donald Trump finalized the exemption from Article 232 of the Trade Expansion Act, which imposed a high rate of additional tariffs on Korean steel products.
The US government, in the industry, is complaining about the fact that an individual`s decision to impose anti-dumping duties on steel products makes the negotiations over the application of Article 232 of the Trade Expansion Act irrelevant. The US Department of Commerce said on March 20 that anti-dumping and countervailing duties on carbon and alloy steel shipments in five of these countries, including Korea, showed that steel companies in these countries are receiving illegal subsidies from the government or selling dumping in the US And has notified it on the trade.
The Commerce Department accepted the petition of US steel companies in March of last year and launched an anti-dumping investigation on wire rods exported through 10 countries including Korea. This was the first antidumping investigation on Korean exports since the Trump administration was launched.
Meanwhile, the wire rod is a product belonging to crude steel among the rolled steel, and its cross section is round and coiled. According to the Korean government, exports of wire rod exports to the US have decreased from 116,921 M / T (Metric ton) in 2015 to 59,260,000 in 2016 to 92,504 M / T in May.
By Park Jung Il comja77@
[ copyright ⓒ The Digitaltimes ]
The US International Trade Commission (USITC) has ruled on May 1 (local time) that Korean carbon and alloy steel wire rod products are damaging the US steel industry. Accordingly, 41.1% of anti-dumping duties are imposed on carbon steel wire rod and alloy steel wire rod products exported to Korea by Korean steel companies including POSCO.
The trade ministry stated in its statement that it made the decision in the final stages of the anti-dumping and countervailing duty investigation on carbon and alloy steel wire imports from five countries including Italy, Turkey, Spain and the United Kingdom. According to industry experts, steelmakers are likely to ask the US authorities to review the case in the past.
The highest anti-dumping duties are 147.63% for UK products and 11.08-32.64% for Spain and 12.41-18.89% for Italy. The tariff rate for Turkish products is the lowest at 4.74% to 7.94%. The move came just days after President Donald Trump finalized the exemption from Article 232 of the Trade Expansion Act, which imposed a high rate of additional tariffs on Korean steel products.
The US government, in the industry, is complaining about the fact that an individual`s decision to impose anti-dumping duties on steel products makes the negotiations over the application of Article 232 of the Trade Expansion Act irrelevant. The US Department of Commerce said on March 20 that anti-dumping and countervailing duties on carbon and alloy steel shipments in five of these countries, including Korea, showed that steel companies in these countries are receiving illegal subsidies from the government or selling dumping in the US And has notified it on the trade.
The Commerce Department accepted the petition of US steel companies in March of last year and launched an anti-dumping investigation on wire rods exported through 10 countries including Korea. This was the first antidumping investigation on Korean exports since the Trump administration was launched.
Meanwhile, the wire rod is a product belonging to crude steel among the rolled steel, and its cross section is round and coiled. According to the Korean government, exports of wire rod exports to the US have decreased from 116,921 M / T (Metric ton) in 2015 to 59,260,000 in 2016 to 92,504 M / T in May.
By Park Jung Il comja77@