The U.S. Department of Commerce has corrected a significant error in its preliminary investigation regarding the sale of certain epoxy resins from Korea. The investigation found that Kumho P&B Chemicals had a significant ministerial error in the calculation of their dumping margin. These corrected changes lead to a revised dumping margin for Kumho P&B and all other producers or exporters, resulting in adjusted cash deposit rates effective retroactively to November 13, 2024. The revised rates suggest a decrease in cash deposits, and the Commerce Department will update U.S. Customs and Border Protection with the new instructions for refunds.
Simple Explanation
The U.S. government fixed a mistake in their earlier check on some special glue from Korea, making sure that a company’s prices are fairer; this means people selling the glue now have to pay less money beforehand when bringing it into the U.S.