US ITC Extends Anti-Dumping Duties on Korean Cold-Rolled Steel Sheets

[Asia Economy New York=Special Correspondent Joselgina] The U.S. International Trade Commission (ITC) decided on the 20th (local time) to extend the imposition of anti-dumping duties on Korean cold-rolled steel sheets.

The ITC announced that it made this decision after reviewing whether to extend the duties on Korean cold-rolled steel sheets, whose sunset period (5 years) had arrived. In addition to Korean products, the ITC also decided to extend duties on cold-rolled steel sheets from China, India, Japan, and the United Kingdom. However, it discontinued the duty imposition on Brazilian products.

Previously, in September 2016, the ITC decided to impose anti-dumping and countervailing duties of up to 64.68% on Korean cold-rolled steel sheets. Cold-rolled steel sheets are key materials for a wide range of durable consumer goods such as automobile bodies and electrical products.

For Korean companies such as POSCO, export volumes to the U.S. sharply declined following the initial duty imposition decision, and it is reported that there is no additional damage expected from this extension decision.