Korea Steel Dumped Cheap? Commerce Slaps Duties, Yawn.
Published Date: 4/2/2025
Notice
Summary
The U.S. Department of Commerce found that Korean steel makers Hyundai Steel and POSCO sold hot-rolled steel in the U.S. at prices lower than normal from October 2022 to September 2023. Because of this, certain extra duties will apply to their products starting April 2, 2025. This means importers and buyers should expect some changes in costs and rules for Korean hot-rolled steel soon.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Antidumping Duties on Korean Hot‑Rolled Steel
The Department of Commerce found dumping for the period October 1, 2022 through September 30, 2023 and antidumping duties apply as of April 2, 2025. Commerce assigned company-specific cash deposit rates of 0.89 percent for Hyundai Steel and 2.27 percent for POSCO/POSCO International; the all‑others rate remains 6.05 percent. These cash deposit rates apply to shipments entered, or withdrawn from warehouse, for consumption on or after April 2, 2025 and remain in effect until further notice.
Importer Certificate Requirement and Penalties
Importers must file a certificate about reimbursement of antidumping and/or countervailing duties prior to liquidation of the relevant entries under 19 CFR 351.402(f)(2). If importers fail to file that certificate, Commerce may presume reimbursement occurred and could assess double antidumping duties and/or increase antidumping duties by the amount of countervailing duties.
Zero or De Minimis Importer Exception
If an importer-specific assessment rate calculates to zero or de minimis (less than 0.5 percent), entries by that importer will be liquidated without regard to antidumping duties. This exception applies when the importer-specific rate computed under 19 CFR 351.212(b)(1) is below 0.5 percent.
Liquidation at All‑Others Rate for Unknown Destinations
For entries produced by the examined respondents where the producer did not know the merchandise was destined for the United States, Commerce will instruct U.S. Customs and Border Protection to liquidate unreviewed entries at the all‑others rate if there is no rate for the intermediate company. The all‑others rate established in the investigation is 6.05 percent.
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Key Dates
Department and Agencies
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