The US Department of Commerce has imposed countervailing duties of 0.56% on imports of cut to length steel plate imports from South Korea to offset subsidies for US’s domestic producers of those goods in the home country to balance out a perceived advantage. Hyundai Steel, Dongkuk Steel, BDP International and Sungjin Steel will be subject to the duty.Countervailing tariff was imposed starting in 1999 at the behest of American steelmakers and has been subject to an annual review since 2016. The tariff rate has been recalculated annually since the Obama administration
The US Department of Commerce has imposed countervailing duties of 0.56% on imports of cut to length steel plate imports from South Korea to offset subsidies for US’s domestic producers of those goods in the home country to balance out a perceived advantage. Hyundai Steel, Dongkuk Steel, BDP International and Sungjin Steel will be subject to the duty.Countervailing tariff was imposed starting in 1999 at the behest of American steelmakers and has been subject to an annual review since 2016. The tariff rate has been recalculated annually since the Obama administration
