Commerce Probes Korean Steel Subsidies, Halts Reviews for Dozens
Published Date: 3/5/2026
Notice
Summary
The U.S. Department of Commerce found that Hyundai Steel and POSCO from Korea got special government help on certain cold-rolled steel products during 2023. They’re stopping the review for 46 other companies, so those businesses won’t face extra checks right now. This decision, effective March 5, 2026, could affect import costs and trade fairness.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 3 costs, 1 mixed.
POSCO: 3.67% Preliminary Duty
The Department of Commerce preliminarily found that POSCO received countervailable subsidies for cold-rolled steel during January 1, 2023 through December 31, 2023 and calculated a preliminary net subsidy rate of 3.67 percent ad valorem. Commerce will disclose calculations and may instruct Customs to assess duties at the final rates.
Review Rescinded for 46 Korean Firms
Commerce rescinded, in part, the administrative review for 46 named Korean companies because timely withdrawal requests were filed; those 46 companies are listed in Appendix II. For those rescinded companies, Commerce will instruct U.S. Customs and Border Protection to assess countervailing duties on appropriate entries at a rate equal to the cash deposit required at the time of entry for shipments during January 1, 2023 through December 31, 2023.
Cash Deposit Instructions and Ongoing Collections
Commerce intends to direct Customs to collect cash deposits of estimated countervailing duties for shipments entered or withdrawn for consumption on or after the publication of the final results of this review. If final rates are zero or de minimis, no cash deposit will be required; for non-reviewed firms Customs will continue collecting deposits at the most recent company-specific or all-others rate.
Hyundai Steel: 1.28% Preliminary Duty
The Department of Commerce preliminarily found that Hyundai Steel received countervailable subsidies for cold-rolled steel during January 1, 2023 through December 31, 2023 and calculated a preliminary net subsidy rate of 1.28 percent ad valorem. This notice is applicable March 5, 2026, and Commerce says it will instruct U.S. Customs and Border Protection to assess duties at rates set in the final results.
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