ITC approves import duties for cold-rolled steel

The U.S. International Trade Commission has approved antidumping duties be imposed on imports of cold-rolled flat steel products from Brazil, India, South Korea and the United Kingdom.    The U.S. International Trade Commission (TIC) has approved antidumping duties be imposed on imports of cold-rolled flat steel products from Brazil, India, South Korea and the United Kingdom.
   Based on its investigation, the ITC found that these products are imported into the United States at less than fair market value and thus harmful to domestic industry.
   Furthermore, the ITC approved the imposition of countervailing duty orders on the same products from Brazil, India and South Korea. The agency found during its investigations that the governments of these three countries have provided countervailing subsidies to their domestic producers of cold-rolled flat steel based on their export performance and use of domestic inputs over imports.
   The Commerce Department had also previously determined that cold-rolled flat steel products are sold in the United States at less than fair value and subsidized by the governments of Brazil, India, South Korea and Russia.
   However, all six ITC commissioners found that these imports from Russia are negligible. As a result of the commission’s finding, no antidumping and countervailing duty orders will be issued on these imports from Russia.
   The petitioners for the investigations were AK Steel Corp. in Ohio, ArcelorMittal USA of Illinois, Nucor Corp. in North Carolina, Steel Dynamics of Indiana and U.S. Steel Corp. in Pennsylvania.
   In 2014, Commerce estimated import values of cold-rolled steel from Brazil, India, South Korea, Russia and the United Kingdom to be $65 million, $57 million, $206 million, $54 million and $132 million, respectively.