The US Department of Commerce unveils initial findings in the countervailing duty review on Turkish rebar. Kaptan Demir Qelik and Qolakoglu Metalurji face preliminary countervailable subsidy rates of 5.54% and a minimal 0.03% for the period spanning January 1, 2021, to December 31, 2021. The DOC rescinds the review for 15 companies and contemplates doing the same for four others, with the final verdict anticipated within 120 days.
The US Department of Commerce (DOC) has taken a significant step in its administrative review of the countervailing duty (CVD) order concerning rebar imports from Turkey. In the preliminary results released, Turkish suppliers Kaptan Demir Qelik and Qolakoglu Metalurji are identified as recipients of countervailable subsidy rates. Specifically, Kaptan Demir Qelik faces a subsidy rate of 5.54%, while Qolakoglu Metalurji's rate is a minimal 0.03% (de minimis). These determinations cover the period from January 1, 2021, through December 31, 2021.
The DOC has notably rescinded the review of countervailing duties on the specified product for 15 companies. Additionally, there are intentions to extend this rescission to four other companies, shaping the landscape of the preliminary review.
The final results of the comprehensive review are anticipated within 120 days of the publication of these preliminary findings. As the DOC delves deeper into the intricacies of the CVD order on Turkish rebar, the outcome will play a crucial role in shaping the regulatory landscape governing steel imports and trade dynamics between the United States and Turkey.
The preliminary findings of the US Department of Commerce's countervailing duty (CVD) review on Turkish rebar reveal subsidy rates for Kaptan Demir Qelik and Qolakoglu Metalurji. With rates identified at 5.54% and a minimal 0.03% (de minimis), the review further rescinds duties for 15 companies, with potential rescission for four others. As the final results loom within 120 days, these revelations mark a crucial juncture in shaping the regulatory framework governing rebar imports from Turkey, impacting trade dynamics and relationships between the two nations.