POSCO's Steel Plates Face U.S. Subsidy Penalties in 2023 Review
Published Date: 5/14/2026
Notice
Summary
The U.S. Department of Commerce found that POSCO, a Korean steel company, got unfair government help in 2023 for their cut-to-length steel plates. Because of this, certain extra taxes (called countervailing duties) will apply to their products to keep things fair for U.S. businesses. These final rules take effect on May 14, 2026, and could affect prices and imports.
Analyzed Economic Effects
5 provisions identified: 0 benefits, 4 costs, 1 mixed.
Final Results Effective May 14, 2026 — Import/Price Effects
The final results are applicable May 14, 2026; the Department of Commerce states these results could affect imports and prices for the covered carbon and alloy steel cut-to-length plate.
POSCO Assigned 3.70% Countervail Rate
Commerce determined POSCO Co., Ltd. received countervailable subsidies for the period January 1, 2023 through December 31, 2023 and assigned POSCO a net countervailable subsidy rate of 3.70 percent ad valorem for that period.
CBP to Assess Countervailing Duties
U.S. Customs and Border Protection (CBP) will assess countervailing duties on appropriate entries of subject merchandise in accordance with these final results; Commerce intends to issue assessment instructions to CBP no earlier than 35 days after publication, and if a timely summons is filed, CBP will be directed not to liquidate relevant entries until the time for a statutory injunction expires (within 90 days of publication).
Cash Deposit Rules and 3.72% All-Others Rate
Commerce intends to instruct CBP to collect cash deposits of estimated countervailing duties on shipments entered or withdrawn for consumption on or after the date of publication of these final results; for non-reviewed firms, CBP will continue to collect cash deposits at the most recent company-specific rate or the all-others rate of 3.72 percent, effective upon publication and remaining in effect until further notice.
POSCO International Exports Use Producer Rate
Entries of subject merchandise exported by POSCO International that were produced by POSCO will receive the countervailing duty rate of the producer listed on the U.S. Customs and Border Protection entry form; POSCO International's subsidies were included in POSCO's total subsidy rate for the period January 1, 2023 through December 31, 2023.
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