The U.S. Department of Commerce has preliminarily decided that certain corrosion-resistant steel products from Brazil are being sold in the U.S. at prices lower than fair value. This investigation covers the period from July 1, 2023, to June 30, 2024, and focuses on companies like Companhia Siderurgica Nacional and Usiminas Siderurgicas de Minas Gerais S.A. The investigation, conducted under the Tariff Act of 1930, will lead to U.S. Customs suspending liquidation of these steel products and requiring cash deposits based on calculated dumping margins. Public comments are invited on this determination, and the final decision is postponed to allow more extensive provisional measures, extending up to six months.
Simple Explanation
The U.S. Department of Commerce thinks that some steel from Brazil is being sold in America for less than it's really worth, so they want to make rules to fix that; they ask people to share their thoughts about this decision.