the Commerce Department on Monday announced five affirmative final determinations on the issue of circumvention of anti-dumping duties (AD) and countervailing duty (CVD) relating to steel products that are produced in Korea and Taiwan, go to Vietnam for minor processing and then exported to the United States as a corrosion-resistant steel products (CORE) and cold rolled steel (CRS) - to bypass current restrictions.
In accordance with the decisions taken, the Ministry will instruct Customs and border protection U.S. to continue to collect cash deposits of AD and CVD on imports of CORE and CRS produced in Vietnam using the substrate of the Korean or Taiwanese origin. These fees apply to any deliveries, since the 2 August 2018, when the Commerce initiated these alternate queries.
Applicable Deposit rates will be 456,20 percent, depending on substrate origin and type of steel products exported to the United States.
the Supply CORE from Vietnam to the United States grew from 23 million (from April 2012 to the introduction of preliminary duties on South Korean and Taiwanese products in December 2015) to 1.1 trillion dollars (with the imposition of preliminary duties in January 2016 to September 2019), which is an increase of 4 353 percent. In addition, the supply of CRS from Vietnam to the United States increased from $ 49 million (January 2013 until February 2016 was introduced preliminary duties on South Korean and Taiwanese products) to 498 million dollars (with the introduction of provisional duties in March 2016 to April 2019), or 922 percent increase.
the Investigation was conducted in accordance with the needs of American manufacturers CORE and CRS in the United States, including Steel Dynamics, Inc. (IN), California Steel Industries (CA), AK Steel Corporation (OH), ArcelorMittal USA LLC (IN), Nucor Corporation (NC) and Steel Corporation United States (PA).
