Korean Steel Plates Hit with U.S. Subsidy Review Preliminary
Published Date: 5/13/2026
Notice
Summary
The U.S. Department of Commerce found that two Korean steel companies, Dongkuk Steel and Hyundai Steel, got unfair government help on their cut-to-length carbon-quality steel plates during 2024. They’re also stopping the review for two other companies. This means some import taxes might change soon, and folks involved can share their thoughts before it’s final.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Cash Deposit Rules and De Minimis Threshold
When Commerce issues final results, U.S. Customs and Border Protection will collect cash deposits of estimated countervailing duties on shipments entered or withdrawn for consumption on or after the date of publication of the final results. The cash deposit will equal the company-specific subsidy rate from the final results (but will be zero if the rate is less than 0.50 percent), the higher of producer or exporter rates if they differ, and the all-others rate will remain 3.26 percent.
Preliminary Subsidy Rates for Two Korean Firms
The Department of Commerce preliminarily found countervailable subsidies for Dongkuk Steel Mill Co., Ltd. and Hyundai Steel Company for the period January 1, 2024 through December 31, 2024. Commerce preliminarily assigned net countervailable subsidy rates of 1.89 percent ad valorem to Dongkuk and 1.39 percent ad valorem to Hyundai.
Review Rescinded for Two Exporters
Commerce is rescinding the administrative review for Daeik Eng Co., Ltd. and MAIKO International after domestic parties withdrew their review request on June 26, 2025. For these two companies, Commerce will instruct U.S. Customs and Border Protection to assess countervailing duties at the cash deposit rate required at the time of entry or withdrawal from warehouse for consumption, pursuant to 19 CFR 351.212(c)(1)(i).
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