The U.S. Department of Commerce has completed its review of antidumping duties for certain corrosion-resistant steel products from South Korea, covering sales from July 1, 2022, to June 30, 2023. They found that Dongkuk Coated Metal Co., Ltd. sold these products in the U.S. at prices lower than normal value, leading to antidumping duties being assessed on these sales. In contrast, Hyundai Steel Company did not sell the products below their normal value during the same period. The Commerce Department will instruct U.S. Customs and Border Protection on how to apply these findings to import duties.
Simple Explanation
The U.S. Department of Commerce checked if certain companies from South Korea sold special steel in the U.S. for less than they were supposed to and found that one company did, while another did not. This means the one company might have to pay extra fees to make up for it.