US calls for 256% tariff on steel imports from China

Imports from India, South Korea and Italy will be taxed at lower rates

Live Mint
Date: Dec 23 2015
By: Sonja Elmquist

New York: Corrosion-resistant steel imports from China were sold at

The government found dumping margins of 3.25% for most South Korean steel imports, with Hyundai Steel Co.’s shipments subject to duties of 3.5%. Photo: Mint
The government found dumping margins of 3.25% for most South Korean steel imports, with Hyundai Steel Co.’s shipments subject to duties of 3.5%. Photo: Mint

unfairly low prices and will be taxed at 256%, according to a preliminary finding of the US department of commerce.

Imports from India, South Korea and Italy will be taxed at lower rates, the agency said on Tuesday in a statement. Imports from Taiwan and Italy’s Marcegaglia SpA will not face anti-dumping tariffs. The government found dumping margins of 3.25% for most South Korean steel imports, with Hyundai Steel Co.’s shipments subject to duties of 3.5%. Imports from Italian companies excluding Marcegaglia will be taxed at 3.1%. Indian imports are subject to duties from 6.6% to 6.9%.

“We’re concerned that the dumping that’s occurring is at higher levels than these determinations reflect,” Tim Brightbill, a partner at Wiley Rein Llp, a law firm representing US steel maker Nucor Corp., said Tuesday in an interview. “We have serious concerns that these preliminary duties are not enough at a time when unfairly priced imports continue to surge into the US market at unprecedented rates.”     [FULL  STORY]

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