The U.S. Department of Commerce has called the South Korean government’s electricity price calculation method into question again during its anti-dumping determination on plated steel sheets imported from South Korea. The department’s stance is that Korea Electric Power Corp. (KEPCO), a state-run co
The U.S. Department of Commerce recently decided to apply an anti-dumping duty rate of percent to plated steel sheets Hyundai Steel exports to the United States.Back in May 2016, the department imposed an anti-dumping duty of 47.8 percent on Hyundai Steel, 8.75 percent on Dongkuk Steel, and 28.28 pe
The United States Department of Commerce is predicted to almost triple its anti-dumping duties on South Korean steel companies’ oil pipeline products as compared with last year despite the United States Court of International Trade’s recent ruling against its duties on oil country tubular goods impo
The U.S. Court of International Trade (USCIT) put the brakes on the Particular Market Situation (PMS), which is a method the U.S. Department of Commerce has used in imposing high tariffs on South Korean steel. South Korean steel companies are anticipating that the court’s recent decision will help t
The United States has eliminated its anti-dumping duty on polyethylene terephthalate (PET) resin from South Korea.According to the Korea International Trade Association, the U.S. Department of Commerce made the decision on October 18 (local time) based on its anti-dumping investigation into the item
South Korean washing machines exported to the United States are subject to a tariff of 50% starting from this month, as the U.S. tariff rate quota (TRQ) applied to South Korean washing machines has been used up.According to the U.S. Customs and Border Protection (CBP) on Oct. 17, the U.S. imported 1
Chinese steelmakers are penetrating deeper into the Korean steel market while Korean steelmakers are struggling to cope with strengthening U.S. protectionism. There is a possibility of cheaper Chinese products further expanding their share of the Korean steel market as an upturn in Korean shipbuilde
The trade ministers of South Korea and the United States have signed the revised KORUS FTA, which will take effect after parliamentary ratification in each country.Trade Minister Kim Hyun-chong and USTR Robert Lighthizer signed the revised agreement in New York on September 24 (local time). Accordin
The United States government has launched an additional investigation into Hyundai Steel’s cold-rolled steel sheets, taking issue with South Korea’s Special Act on Corporate Revitalization. This investigation is the third of its kind since the beginning of this year, following those related to hot-r
In March, the US Commerce Department imposed a 60.81-percent retaliatory tariff on large-sized transformers exported by Hyundai Electric, an affiliate of the Hyundai Heavy Industries Group, saying the factual information submitted by the company was inadequate. "We could not know what information th
The business environment of South Korean steel companies is deteriorating amid U.S. import quotas and tariffs, EU safeguard measures, and China’s investigation into steel products from four countries including Korea.The Chinese Ministry of Commerce announced on July 23 that it has initiated an anti-
Trade barriers against South Korea are rising across the world in the wake of the trade war triggered by the United States.According to a recent report from the Korea International Trade Association, a total of 202 import restrictions are in effect in 27 countries as of July 2. For reference, the nu
Korean chemical companies are responding to the growing trade pressure from the US government with localization strategies.One example is Hanwha Q Cells Korea, which is planning to build a solar energy module plant in Whitfield County, Georgia. Hanwha is pushing to start construction of the plant th
USS-POSCO Industries (UPI), the US subsidiary of POSCO, remained in the red for the sixth consecutive quarter in the first quarter of this year. POSCO and U.S. Steel established UPI in 1986 by investing 49% and 51%, respectively. The joint venture company posted a loss of 22 billion won (US$21 milli
The U.S. Department of Commerce provisionally decided to lower its retaliatory tariff on POSCO’s cold-rolled steel sheets from 59.72% to 42.61% following a ruling by the U.S. Court of International Trade (USCIT). Similar adjustments are anticipated as the court is looking into tariffs on many other
South Korea and the United States agreed on an amendment to their FTA stipulating that reasons for import restrictions must be clarified and corporate due diligence periods and details must be notified in advance. This means the United States accepted South Korea’s request for protection from unfair
South Korean exporters are advised to take extra caution to avoid US antidumping penalties as most of Korean products subject to the US antidumping regulations are the same as the Chinese products targeted by U.S. antidumping tariffs.According to a report released by the Korea International Trade As
The US government has imposed an over 100% anti-dumping duties on Korean chemical products after slapping heavy anti-dumping duties on steel products from South Korea.On May 2, the U.S. Department of Commerce made a preliminary anti-dumping ruling on PET resin imported from South Korea. According to
The European Union is resorting to trade protectionism to protect European steelmakers, which are going through a hard time due to protectionist trade policy of the United States.The EU recently decided to extend its 60.5% anti-dumping tariff on South Korean steel ropes and cables for five years. Th
There is a growing concern that the trade war between the United States and China will be reignited. The US Department of Commerce limited Chinese telecommunications equipment maker ZTE’s deals with US companies over the next seven years. In response, China immediately made an antidumping preliminar