On 20 Mar’18, U.S. Department of Commerce announced the affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations on 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.
The Commerce Department determined that exports from the above-mentioned countries are being sold at less than the fair value. According to the investigation Italy, Korea, Spain, Turkey, and the United Kingdom are dumping carbon and alloy steel wire rod in the U.S. at 12.41– 18.89 %, 41.10 %, 11.08 – 32.64 %, 4.74 – 7.94 %, and 147.63 % less than fair value, respectively.
In 2016, imports of carbon and alloy steel wire rod from Italy, Korea, Spain, Turkey, and the U.K. were estimated around USD 12.2 million, USD 45.6 million, USD 40.7 million, USD 41.4 million, and USD 20.5 million, respectively.
The petitioners for the imposition of AD and CVD were Gerdau Ameristeel US Inc. (FL), Nucor Corporation (NC), Keystone Consolidated Industries (TX), and Charter Steel (WI).
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.
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 benefit the production of goods from foreign companies are subject to CVD duties.