Korean Steel Faces Countervailing Duties After Commerce Review
Published Date: 10/8/2026
Notice
Summary
The U.S. Department of Commerce found that some Korean steel makers got unfair government help during 2024, so they’re reviewing extra taxes on those steel products. They’re stopping the review for one company, Dongkuk CM, but continuing with others like Hyundai Steel. This could mean changes in import costs starting October 8, 2026, affecting businesses and buyers of this steel.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Preliminary Countervailing Duty Rates Announced
Commerce preliminarily found countervailable subsidies for certain corrosion-resistant steel from Korea for the period January 1, 2024 through December 31, 2024 and assigned preliminary net subsidy rates of 0.58% for Hyundai Steel Company, 4.82% for KG Dongbu Steel Co., Ltd., and 2.22% for companies not selected for individual review. These preliminary results are applicable October 8, 2026, and Commerce states it will determine and instruct U.S. Customs and Border Protection (CBP) to assess countervailing duties on the appropriate entries covered by this review.
Cash Deposit Rules and All-Others Rate Continued
Commerce intends to instruct CBP to collect cash deposits of estimated countervailing duties on shipments entered or withdrawn for consumption on or after the date of publication of the final results of this review using company-specific final rates, except that rates below 0.50% are de minimis and will be zero. If producer and exporter rates differ, the higher rate will apply; if only one has a company-specific rate, that rate will apply; and the cash deposit rate for all other producers and exporters will remain 1.19% (the all-others rate established in the investigation) until further notice.
Review Rescinded for Dongkuk Coated Metal
Commerce is rescinding this administrative review with respect to Dongkuk Coated Metal Co., Ltd. for the period January 1, 2024 through December 31, 2024. For companies where the review is rescinded, Commerce will instruct CBP to assess countervailing duties on appropriate entries at the cash deposit rate of estimated countervailing duties that was required at the time of entry (or withdrawal from warehouse) during that period.
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Key Dates
Department and Agencies
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