The U.S. Commerce Department has decided to slap preliminary anti-dumping duties on South Korean steel products in the latest blow to the Asian country, industry officials said Tuesday. (Image: Yonhap)
SEOUL, March 13 (Korea Bizwire) — The U.S. Commerce Department has decided to slap preliminary anti-dumping duties on South Korean steel products in the latest blow to the Asian country, industry officials said Tuesday.
The department calculated a preliminary anti-dumping duty of 11.64 percent and 0.9 percent for thick steel plates made by Hyundai Steel Co. and Dongkuk Still Mill Co., respectively, according to industry officials.
A Hyundai Steel official said his company will take the case to the U.S. Court of International Trade after the department calculates a final dumping margin, a process that could take up to 120 days.
Thick steel plates are used in building ships and bridges.
In January, Jane A. Restani, a judge of the U.S. Court of International Trade, said in a slip opinion that the Commerce Department’s final results in its anti-dumping duty investigation of South Korean corrosion-resistant steel products should be remanded.
In 2015, the Commerce Department launched an investigation over the possible sale of corrosion-resistant steel products from South Korea and other countries, claiming they were being sold at less than fair value.
The department calculated a final dumping margin of 47.8 percent for Hyundai’s steel products in May 2016 by applying an adverse inference to the facts available.
(Yonhap)
