US Finds Dumping and Subsidization of Imports of Wire Rod from Five Countries
The United States Department of Commerce announced the affirmative final determinations in the antidumping duty (AD) and countervailing duty (CVD) investigations of imports of carbon and alloy steel wire rod from Italy and Turkey and AD investigations of carbon and alloy steel wire rod from South Korea, Spain, and the United Kingdom.
The Commerce Department determined that exporters from Italy, South Korea, Spain, Turkey, and the United Kingdom are dumping carbon and alloy steel wire rod in the United States at 12.41to 18.89 percent, 41.10 percent, 11.08 to 32.64 percent, 4.74 to 7.94 percent, and 147.63 percent less than fair value, respectively. Commerce also determined that Italy and Turkey are providing countervailable subsidies to its producers of carbon and alloy steel wire rod at rates ranging from 4.16 to 44.18 percent and 3.81 to 3.86 percent, respectively.
In 2016, imports of carbon and alloy steel wire rod from Italy, Korea, Spain, Turkey, and the United Kingdom were valued at an estimated $12.2 million, $45.6 million, $40.7 million, $41.4 million, and $20.5 million, respectively.
The petitioners in the cases were Gerdau Ameristeel US Inc. of Florida, Nucor Corporation of North Carolina, Keystone Consolidated Industries, of Texas, and Charter Steel of Wisconsin.
The AD and CVD laws provide US 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. Foreign companies that price their products in the US 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 benefits the production of goods from foreign companies and is limited to specific enterprises or industries, or is contingent either upon export performance or upon the use of domestic goods over imported goods, are subject to CVD duties.
If the US 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.
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