ITC finds corrosion-resistant steel imports harmful to U.S. industry

The U.S. International Trade Commission has determined that imports of corrosion-resistant steel products from China, India, Italy, South Korea and Taiwan harm domestic producers of similar products.    The U.S. International Trade Commission (ITC) has determined that imports of corrosion-resistant steel products (CORE) from China, India, Italy, South Korea and Taiwan harm domestic producers of similar products.
   The ITC determination follows the Commerce Department’s finding that these imports are sold in the United States at less than fair value and subsidized by the governments of China, India, Italy and South Korea.
   As a result of the ITC’s affirmative determinations, Commerce will now issue a countervailing duty order on these imports from China, India, Italy and South Korea and antidumping duty orders on these products from China, India, Italy, South Korea and Taiwan.
  The ITC made “negative findings” with respect to critical circumstances with regard to imports of these products from China, Italy, South Korea and Taiwan. “As a result, goods that entered the United States from China, Italy and [South] Korea prior to Nov. 6, 2015, will not be subject to retroactive countervailing duties, and goods that entered the United States from China, Italy, [South] Korea and Taiwan prior to Jan. 4, 2016, will not be subject to retroactive antidumping duties,” the ITC said.
   The petitioners for the antidumping and countervailing duty investigations related to the corrosive-resistant steel imports included the U.S. Steel Corporation of Pennsylvania, Nucor Corp. in North Carolina, ArcelorMittal USA of Illinois, AK Steel Corp. in Ohio, Steel Dynamics of Indiana and California Steel Industries in California.
   Commerce estimated that in 2015, imports of CORE from China, India, Italy, South Korea and Taiwan were valued at an estimated $500.3 million, $219.6 million, $110 million, $509.1 million and $534.4 million, respectively.