The U.S. Department of Commerce announced a correction to a previous notice about countervailing duty orders on certain steel products from India and China. The original notice had incorrect subsidy rates for two companies: Ningbo Zhongjiang High Strength Bolts Co., Ltd. and Zhejiang Junyue Standard Part Co., Ltd. The subsidy rate for Ningbo Zhongjiang was corrected from 69.20% to 31.68%, and for Zhejiang Junyue, it was changed from 31.20% to 69.20%. This correction was necessary to ensure accurate information is provided to interested parties.
Simple Explanation
The U.S. Department of Commerce made a fix to a mistake in their earlier announcement about certain taxes on steel rods from India and China. They corrected the amounts of money two companies have to pay: one company will pay less, and the other will pay more.