The U.S. Department of Commerce has completed its review of sales by Industeel Belgium S.A. during May 1, 2022, to April 30, 2023, and found that the company sold steel plates in the U.S. at prices below normal value. These findings result in an estimated weighted-average dumping margin for the company, which means they will have to pay antidumping duties on their products. The Commerce Department will disclose the calculations behind these results within five days of publication and will instruct U.S. Customs and Border Protection on how to assess these duties. The cash deposit rates for future shipments from Industeel and other producers will be adjusted based on these results.
Simple Explanation
The U.S. government checked if a company from Belgium, called Industeel, was selling steel plates in the U.S. for prices cheaper than usual, which they were; now, they'll have to pay extra fees on those sales to make it fairer for everyone else.