Korean Steel Plates Get Clean Bill: No Dumping Duties Assessed
Published Date: 2/21/2025
Notice
Summary
The U.S. Department of Commerce checked if POSCO, a big steel company from Korea, sold certain steel plates at unfairly low prices between May 2022 and April 2023. They found POSCO did not sell below normal value, so no extra duties will be charged. This decision affects POSCO and U.S. steel buyers, with the final results effective February 21, 2025.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
Importers must certify reimbursement or risk double duties
Importers are required to file a certificate regarding reimbursement of antidumping duties under 19 CFR 351.402(f)(2) prior to liquidation of the relevant entries for this review period. If an importer fails to file this certificate, Commerce may presume reimbursement occurred and assess double antidumping duties.
POSCO entries cleared without antidumping duties
For the period May 1, 2022 through April 30, 2023, Commerce found POSCO's weighted-average dumping margin to be 0.00%. As a result, Commerce will instruct U.S. Customs and Border Protection to liquidate the appropriate POSCO entries from that period without regard to antidumping duties; this final result is applicable February 21, 2025.
POSCO cash deposit rate set to 0%
Effective upon publication (February 21, 2025), the cash deposit rate for the POSCO single entity will be 0.00% for shipments entered, or withdrawn from warehouse, for consumption on or after the publication date. This changes the upfront cash deposit importers must post for new POSCO shipments after that date.
All-others cash deposit rate remains 7.10%
Effective upon publication (February 21, 2025), the cash deposit rate for all other producers and exporters not covered by this review will continue to be the all-others rate of 7.10%. Company-specific rates from prior completed segments also remain in effect for those companies.
Automatic assessment may apply at all-others rate
Commerce will apply its automatic assessment rule to POR entries produced by the POSCO single entity where POSCO did not know that merchandise it sold to an intermediary was destined for the United States; in such cases Commerce will instruct CBP to liquidate those entries at the all-others rate if there is no rate for the intermediate company. The notice states the all-others rate is 7.10%.
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