The U.S. Department of Commerce recently decided to apply an anti-dumping duty rate of 0 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 percent on other South Korean steelmakers. At that time, the department applied adverse facts available (AFA), mentioning that the steelmakers submitted insufficient data.
The companies filed a suit with the U.S. Court of International Trade in response, and the tariff rates were lowered in May 2018 to 7.89 percent and 8.32 percent for Hyundai Steel and the others, respectively. During the department’s annual review in August 2018, it changed the figures to 10.32 percent, 4.14 percent and 5.55 percent as preliminary determination results. At the recent final determination, the first figure has been adjusted to 0 percent and the second and third to 7.33 percent.
The department has reportedly canceled the AFA application to Hyundai Steel after determining that the data from the company is sufficient. The company is anticipating that its plated steel sheets will be exported to the United States with greater ease.