Posted at 5:49 PM
Today, the U.S. Department of Commerce announced the affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of carbon and alloy steel wire rod from Italy and Turkey and AD investigations of carbon and alloy steel wire rod from Korea, Spain, and the United Kingdom.
“President Trump made it clear from the beginning that we will vigorously administer our trade laws to provide U.S. industry with relief from unfair trade practices,” said Secretary Ross. “Today’s decision follows an open and transparent investigation in accordance with the applicable laws, regulations, and administrative practices that ensured a full and fair review of the facts.”
The Commerce Department determined that exporters from Italy, Korea, Spain, Turkey, and the United Kingdom are dumping carbon and alloy steel wire rod in the United States at 12.41– 18.89 percent, 41.10 percent, 11.08 – 32.64 percent, 4.74 – 7.94 percent, and 147.63 percent less than fair value, respectively. Commerce also determined that Italy and Turkey are providing countervailable subsidies to its producers of carbon and alloy steel wire rod at rates ranging from 4.16 – 44.18 percent and 3.81 – 3.86 percent, respectively.
In 2016, imports of carbon and alloy steel wire rod from Italy, Korea, Spain, Turkey, and the United Kingdom were valued at an estimated $12.2 million, $45.6 million, $40.7 million, $41.4 million, and $20.5 million, respectively.
The petitioners are Gerdau Ameristeel US Inc. (FL), Nucor Corporation (NC), Keystone Consolidated Industries (TX), and Charter Steel (WI).
Enforcement of U.S. trade law is a prime focus of the Trump administration. From January 20, 2017, through March 20, 2018, the Commerce Department has initiated 102 antidumping and countervailing duty investigations – a 96 percent increase from January 20, 2016, through March 20, 2017.
The AD and CVD laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfairly priced and unfairly subsidized imports into the United States.
If the U.S. International Trade Commission (ITC) makes affirmative final injury determinations, Commerce will issue AD and CVD orders. If the ITC makes negative final determinations of injury, the investigations will be terminated and no orders will be issued.
Click HERE for a fact sheet on today’s decision(s).
The U.S. Department of Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing U.S. trade laws and does so through an impartial, transparent process that abides by international law and is based solely on factual evidence.
Foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to AD duties. Foreign companies that receive financial assistance from foreign governments that benefits the production of goods from foreign companies and is limited to specific enterprises or industries, or is contingent either upon export performance or upon the use of domestic goods over imported goods, are subject to CVD duties.