The U.S. Court of International Trade (CIT) issued a final judgment on January 17, 2025, regarding the countervailing duty (CVD) review of corrosion-resistant steel products from Korea, stating that it disagrees with the U.S. Department of Commerce's prior decision. Consequently, the Department of Commerce is amending its results concerning the subsidy rates for KG Dongbu Steel and related entities. Current cash deposit rates remain unchanged, and any entries from these companies during 2019 are still subject to an injunction until any appeals are resolved. If not appealed, the Department will instruct the assessment of CVDs accordingly.
Simple Explanation
The U.S. government looked at how much extra help some Korean companies were getting to make their strong metal products. The court said the first look wasn’t quite right, so the government is fixing it. But, the rules won’t change yet until everything is double-checked, kind of like making sure everyone’s playing fair in a game.