The U.S. Department of Commerce has preliminarily found that certain corrosion-resistant steel products from South Africa are being sold in the U.S. at prices lower than fair value. The investigation covers the period from July 1, 2023, to June 30, 2024. The decision means that U.S. Customs will require cash deposits from importers of these products. Interested parties can comment on this preliminary decision, with final determinations potentially extending provisions up to six months if requested by exporters.
Simple Explanation
The U.S. government found that some steel from South Africa is being sold in America for too cheap compared to what it should be worth, and now they want to make sure people bringing it in pay extra money just in case. People still have time to tell the government what they think before they make a final decision.