2025-02624NoticeWallet

Court tweaks Korean steel duties: Importers, check your math!

Published Date: 2/14/2025

Notice

Summary

The U.S. Court of International Trade changed the subsidy rates for certain Korean steel companies after reviewing the 2019 countervailing duty case. This means KG Dongbu Steel and its related companies will see updated duty rates starting January 27, 2025. If you’re involved with these steel products, watch for changes that could affect costs and trade rules.

Analyzed Economic Effects

2 provisions identified: 0 benefits, 2 costs, 0 mixed.

KG Dongbu Steel given 5.89% CVD rate

If you import certain corrosion-resistant steel from KG Dongbu Steel (formerly Dongbu Steel) or Dongbu Incheon Steel, Commerce amended the countervailable subsidy rate to 5.89 percent ad valorem. The U.S. Court of International Trade sustained Commerce's redetermination on January 17, 2025, and this amendment is applicable January 27, 2025.

2019 entries may face retroactive CVD assessment

Entries of CORE produced and/or exported by KG Dongbu Steel and Dongbu Incheon Steel that were entered or withdrawn for consumption during January 1, 2019 through December 31, 2019 remain enjoined from liquidation. If the Court's January 17, 2025 judgment is not appealed or is upheld on appeal, Commerce intends to instruct U.S. Customs and Border Protection to assess countervailing duties on those unliquidated entries at the applicable ad valorem rate; if the ad valorem subsidy rate is zero or de minimis, Commerce will instruct CBP to liquidate those entries without regard to countervailing duties.

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Key Dates

Effective Date
Published Date
1/27/2025
2/14/2025

Department and Agencies

Department
Independent Agency
Agency
Commerce Department
International Trade Administration
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