Commerce finds subsidies on steel wire rod imports from Italy, Turkey

The U.S. Commerce Department has preliminarily found that steel wire rod imports from Italy and Turkey received countervailable subsidy rates of 1.7 to 44.18 percent and 2.27 percent, respectively.    The U.S. Commerce Department has preliminary found that steel wire rod imports from Italy and Turkey received countervailable subsidy rates of 1.7 percent to 44.18 percent and 2.27 percent, respectively.
   Countervailable subsidies are issued by foreign governments to companies to encourage exports and their use of domestic materials over imports.  
   Commerce said it will instruct Customs and Border Protection (CBP) to collect cash deposits from importers of carbon and alloy steel wire rod from Italy and Turkey based on the preliminary rates.
   Specifically, Ferriera Valsider S.p.A. of Italy will receive the countervailing duty rate of 44.18 percent, while Ferriere Nord S.p.A. and all other Italian exporters of steel wire rod will receive a duty rate of 1.7 percent. Turkey’s Icdas Celik Eberji Tersane Ve Ulasim San will receive the de minimis rate, and Habas Sinai Ve Tibbi Gazlar Istih and all other Turkish exporters of steel wire rod will receive a countervailing duty rate of 2.27 percent.
   Unless the final determinations are aligned with the concurrent antidumping duty investigations for this product, Commerce is expected to announce its final countervailing duty determinations on Nov. 9.
   If Commerce makes affirmative final determinations of subsidization and the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue its countervailing duty orders. However, if Commerce makes negative final determinations of subsidization or the ITC makes negative final determinations of injury, the investigations will end and no orders will be issued.
   The petitioners for the countervailing duty investigation include Gerdau Ameristeel U.S. of Florida, Nucor Corp. in North Carolina, Keystone Consolidated Industries of Texas, and Charter Steel in Wisconsin. They filed the petition with Commerce and the ITC on March 28.
   According to Commerce, U.S. carbon and alloy steel wire rod imports from Italy and Turkey in 2016 were valued at $12.2 million and $41.4 million, respectively.