Posted on 18 Dec 2019
The US Department of Commerce has hit Vietnamese-origin corrosion-resistant steel and cold-rolled sheet with circumvention duties as high as 456.23%, Kallanish learns from a department release.
The department found evidence of duty circumvention in five separate cases involving Vietnamese-origin material that used South Korean and Taiwanese flat-rolled as substrate.
The US imported just $22 million in corrosion-resistant steel from Vietnam from September 2012 to the imposition of duties on South Korean and Taiwanese substrate in December 2015. Subsequently, imports from Vietnam shot up to $933m in the next 40-month period culminating in April 2019.
Cold-rolled imports likewise rose from $49m in the 38 months between January 2013 and new duties in February 2016 to $498m in the subsequent 38-month period.
The petitioners in the case were AK Steel, ArcelorMittal USA, Nucor, Steel Dynamics Inc, and US Steel.
