Trade Cases
Commerce Issues Duties on Vietnam Cold-Rolled and CORE Steel
Written by Sandy Williams
July 2, 2019
The U.S. Department of Commerce announced duties of up to 456 percent in three preliminary circumvention rulings today involving exports of steel products from Vietnam. The circumvention rulings cover certain steel products that are first produced in Korea and Taiwan, then shipped to Vietnam for minor processing, and finally exported to the United States as corrosion-resistant steel products (CORE) and cold-rolled steel (CRS).
Commerce will instruct Customs and Border Protection to begin collecting cash deposits on imports of corrosion-resistant steel products and cold-rolled steel produced in Vietnam using Korean- or Taiwanese-origin substrate. These duties will be imposed on future imports and also on any unliquidated entries since Aug. 2, 2018 (the date on which Commerce initiated these circumvention inquiries). The applicable cash deposit rates will be as high as 456.23 percent, depending on the origin of the substrate and the type of steel product exported to the United States.
According to Commerce, shipments of CORE from Vietnam increased by 331.9 percent to $950 million in the 40-month period ending April 2019. CRS shipments increased by 916.4 percent to $498 million in the 38-month period ending April 2019.
Petitioners in the circumvention investigation were U.S. domestic producers of CORE and CRS: Steel Dynamics, California Steel Industries, AK Steel Corp., ArcelorMittal USA, Nucor Corp., and U.S. Steel Corp.
To date, the Trump administration has issued 31 preliminary and/or final anti-circumvention determinations.
Sandy Williams
Read more from Sandy WilliamsLatest in Trade Cases
Price on Trade: New EU steel tariffs don’t mean the US should weaken its stance
Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.
Global steel forum sets 2026 framework deadline as US ups pressure on excess capacity
Global steelmakers sounded the alarm Friday over the deepening excess steelmaking capacity crisis. Ministers at the Global Forum on Steel Excess Capacity (GFSEC) in Gqeberha, South Africa, pledged to...
CRU: China’s indirect steel exports find new destination markets
The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
US and Canada expect positive outcomes from tariff negotiations
Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.