WASHINGTON, Aug. 20 (Korea Bizwire) — The U.S. trade watchdog has launched an anti-dumping investigation into allegations that South Korea and six other foreign countries sell hot-rolled steel flat products in the U.S. at unfairly low prices.
The U.S. International Trade Commission posted a notice in the Federal Register saying it has instituted the investigation to determine whether the U.S. industry is harmed by “imports of certain hot-rolled steel flat products from Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom.”
Those products “are alleged to be sold in the United States at less-than-fair-value and alleged to be subsidized by the governments of Brazil, Korea and the United Kingdom,” the commission said in the notice.
The investigation came after American steelmakers filed complaints alleging that they were hurt by exports from South Korea. They demanded anti-dumping duties of up to nearly 160 percent on such exports.
The commission should reach a preliminary determination in antidumping and countervailing duty investigations in 45 days — by Sept. 25 in this case — unless the Department of Commerce extends the time, according to the notice.
South Korea is the largest exporter to the U.S. of hot-rolled steel flat products, with last year’s total amounting to 1.2 million tons.
Since last month, the commission has also been conducting a separate investigation into claims that South Korea and other countries sell cold-rolled steel flat products at below-market prices.