Commerce Department Issues Dumping and Foreign Subsidy Determination
United States Secretary of Commerce Wilbur Ross announced yesterday the final determinations of antidumping (AD) and countervailing duties (CVD) investigations, finding that imports of steel reinforcement bar (rebar) from Japan and Turkey have been sold in the US market at unfair prices, and that rebar imports from Turkey have been unfairly subsidized by the Turkish government.
The Commerce Department determined that exporters from Japan have dumped rebar in the United States at 206.43 percent to 209.46 percent less than fair value in its AD determination. Exporters from Turkey have sold rebar in the United States at 5.39 percent to 8.17 percent less than fair value, commerce found in its AD determination, and received unfair government subsidies of 16.21 percent in its CVD finding.
“The United States can no longer sit back and watch as its essential industries like steel are destroyed by foreign companies unfairly selling their products in US markets,” said Ross. “We will continue to take action on behalf of US industry to defend American businesses, their workers, and our communities adversely impacted by unfair imports.”
In 2016, imports of steel rebar from Japan were estimated to be worth $96.1 million. Imports from Turkey were valued at $511.9 million.
Commerce has instructed Customs and Border Protection to collect cash deposits from importers of rebar based on these final rates.
Imports of steel rebar from Japan have increased steadily, from 23,335 metric tons worth $12.3 million in 2013, to 85,248 metric tons worth $46.6 million in 2014, to 242,336 metric tons in 2015 worth $108.7 million.
Imports of steel rebar from Turkey also have increased steadily, from 650,049 metric tons worth $381.3 million in 2013, to 890,130 metric tons worth $520.5 million in 2014, to 1,474,457 metric tons worth $674.4 million in 2015.
The Rebar Trade Action Coalition filed the case with the Commerce Department on behalf of its individual members: Byer Steel Group, Inc., Cincinnati, Ohio; Commercial Metals Co., Irving, Texas; Gerdau Armisteel U.S., Inc., Tampa, Florida; Nucor Corp., Charlotte, North Carolina; and Steel Dynamics, Inc., Pittsboro, Indiana.
The US International Trade Commission (ITC) is conducting a parallel investigation to determine if the American producers have been harmed by steel rebar imports from Japan and Turkey. The ITC is scheduled to make its final determination on or before June 29, 2017. If the ITC does not find that US producers have been harmed, then the investigations will end, and no duties will be collected.