WASHINGTON – The U.S. Department of Commerce has preliminarily decided to impose antidumping duties on imports of cold-rolled steel products from Japan and six other countries after determining that several companies sold the products at less than fair value, the department said in a statement.
The products are used in a range of items from automotive parts to containers.
China would face the highest margin, at 265.79 percent, while Japanese producers such as JFE Steel Corp. and Nippon Steel & Sumitomo Metal Corp. would face tariffs of 71.35 percent.
Brazil, India, South Korea, Russia and Britain also face duties at lower rates, the statement by the department’s International Trade Administration said.
The decision means U.S. Customs and Border Protection will be instructed to require cash deposits based on these rates until a final decision is made later this year.
For China and Japan, the Commerce Department is scheduled to give its final decision in May, while the U.S. International Trade Commission is expected to decide in June. If either of their findings turns out negative, no antidumping orders will be issued, it said in the statement released Tuesday.
Cheap imports have caused the prices of cold-rolled steel products to fall significantly in the United States, the department said.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.