Korean Steel Duties Adjusted After Fairness Probe Ends
Published Date: 4/16/2025
Notice
Summary
The U.S. checked if Korean companies making stainless steel sheets got unfair government help in 2022 and found that some did. Because of this, certain import duties will change to keep things fair for U.S. businesses. These updates affect Korean exporters and could impact prices and trade starting now.
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Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Korean Producers Found Subsidized in 2022
The U.S. Department of Commerce determined that certain producers and exporters of stainless steel sheet and strip in coils from the Republic of Korea received countervailable subsidies during the period January 1, 2022 through December 31, 2022. This finding applies specifically to that product and that time period.
Import Duties to Be Adjusted; Trade Effects Possible
Because Commerce found countervailable subsidies, certain import duties on stainless steel sheet and strip in coils from Korea will change to address those subsidies. The updates affect Korean exporters and could impact prices and trade starting now.
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