Korean Steel Giants Hit with U.S. Subsidy Penalty Fees
Published Date: 5/16/2025
Notice
Summary
The U.S. checked if Korean steel companies Hyundai Steel and POSCO got unfair help from their government in 2022. They found that these companies did receive subsidies, which means extra charges (countervailing duties) will apply to their steel products sold in the U.S. This helps keep things fair for American steel makers and affects prices starting now.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
CVDs on Korean Cold‑Rolled Steel
The Department of Commerce found that Hyundai Steel Co., Ltd. and POSCO/POSCO International received countervailable subsidies during the period January 1, 2022 through December 31, 2022. As a result, countervailing duties (extra import charges) will apply to their certain cold‑rolled steel products imported into the United States. The decision is intended to protect U.S. steelmakers and may affect prices for buyers and importers.
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