US and South Korea sign new free trade deal, including quotas for US steel imports
According to news reports, the United States and South Korea signed a revised free-trade deal. The US-Korea Free Trade Agreement (KORUS) reportedly addresses many trade issues faced by US exporters, mainly automotive producers. The new KORUS also limits steel and aluminum imports from South Korea. According to the agreement, the United States will impose a 10 percent tariff on aluminum imports. Steel, however, will be subject to a product-specific... Read More
Australia initiates antidumping review on rebar imports from S. Korea and Taiwan
Australia’s Antidumping Commission has announced that it has initiated a review of the antidumping measures applying to certain reinforcing bars exported to Australia from South Korea and Taiwan (with the exception of Power Steel Co. Ltd). This review is limited to examining whether the variable factors, relevant to the taking of the antidumping measures, should be varied. The review launched upon the applications lodged by Australia-based DITH... Read More
No deal: US puts tariffs on steel and aluminum imports from EU, Canada and Mexico
US commerce secretary Wilbur Ross has said that a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the EU, Canada and Mexico will go into effect at midnight, June 1. In March, the US imposed 25 percent duty on steel imports, while granting exemptions to the EU and some other countries until May 1, before later extending the deadline until June 1. Canada, Mexico, and the European Union have already vowed to retaliate... Read More
US amends final AD/CVD decision on wire rod imports from Turkey, Spain
The US Department of Commerce (US DOC) has announced that, with respect to its final determinations in the antidumping duty investigations of imports of carbon and alloy steel wire rod from Italy, South Korea, Spain, Turkey and the UK and countervailing duty investigations of the same imports from Italy and Turkey, to correct ministerial errors, it has amended the final antidumping duty rates for Turkey and Spain and the countervailing duty rates... Read More
Canada concludes reinvestigation of rebar imports from certain countries
The Canada Border Services Agency (CBSA) has announced that it has concluded a reinvestigation to update the normal values and export prices respecting rebar originating in or exported from China, South Korea, Turkey, Belarus, Taiwan, the Hong Kong Special Administrative Region of China, Japan, Portugal and Spain, and the amounts of subsidy of certain rebar originating in or exported from China. Accordingly, the CBSA stated that specific normal values... Read More
US ITC rules that wire rod from five countries injures the US steel industry
The United States International Trade Commission (US ITC) today determined that a US industry is materially injured by reason of imports of carbon and certain alloy steel wire rod from Italy, Korea, Spain, Turkey, and the United Kingdom that the US Department of Commerce (US DOC) has determined are sold in the United States at less than fair value and subsidized by the governments of Italy and Turkey. As a result of the ITC’s affirmative determinations,... Read More
Short Range Outlook : April 2018
Confusion and uncertainty reign in global long products market There is obvious confusion and uncertainty in the global long steel products market triggered by the announcement of new tariffs on steel imports by President Trump as a result of the Section 232 investigation in the US, the subsequent exemptions from these tariffs, and the resulting safeguard investigation announced in the EU. Major exporters to the US – Canada, Mexico, Brazil,... Read More
Australia terminated antidumping probe on rod in coils imports from Indonesia, S. Korea and Vietnam
Australia’s Antidumping Commission has announced that it has terminated the antidumping duty investigation regarding imports of rod in coils from Indonesia, South Korea and Vietnam. As a result of the investigation, the commission decided that the goods exported from Indonesia by PT Ispat Indo were dumped but by a margin of less than 2 percent, the goods exported from Vietnam were not dumped and there has been dumping of the goods by all other exporters... Read More
Temporary exemptions to Section 232 tariffs will expire May 1
A report issued late Thursday by US Customs and Border Protection indicates that the temporary exclusions for US steel tariffs under Section 232 will expire as of May 1. Starting that day, all countries of origin will be subject to the 25 percent tariff on US steel imports. The tariffs are effective with respect to goods entered, or withdrawn from warehouse for consumption, on or after March 23, 2018. Countries with temporary exclusions to the tariffs... Read More
US adds EU, Brazil, Argentina, Australia, and South Korea to temporary tariff exemption list
US Trade Representative Robert Lighthizer announced that the European Union, Brazil, Argentina, Australia, and South Korea will be temporarily excluded from the 25 percent tariff on steel and 10 percent tariff on aluminum under the Section 232 which is set to go into effect for all other countries Friday, March 23. According to media reports, Lighthizer told the Senate Finance Committee that the Trump administration would base exemptions on “a... Read More