U.S. to levy penalty duties on some steel products from Taiwan and South Korea
2019-07-03 17:07:51 [Print]
On July 2, local time, the U.S. Department of Commerce announced that it would levy penalty duties of up to 456% on some steel products from Taiwan and South Korea. It explained in a statement that the steel products were transported to Vietnam for mild processing and then exported to the United States to avoid anti-dumping and countervailing duties.
According to the statement, the United States levied anti-dumping and countervailing duties on products from South Korea and Taiwan in December 2015 and February 2016 respectively. From then on to April this year, the amount of corrosion-resistant steel and cold-rolled steel exported from Vietnam to the United States sharply increased by 332% and 916% respectively compared with the same period before.
It is said that the U.S. Department of Commerce launched the investigation at the request of several U.S. steelmakers.
According to the statement, the United States levied anti-dumping and countervailing duties on products from South Korea and Taiwan in December 2015 and February 2016 respectively. From then on to April this year, the amount of corrosion-resistant steel and cold-rolled steel exported from Vietnam to the United States sharply increased by 332% and 916% respectively compared with the same period before.
It is said that the U.S. Department of Commerce launched the investigation at the request of several U.S. steelmakers.
