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Commerce Dept. Says Cold-Rolled Steel from 15 Markets Was Dumped
The U.S. Department of Commerce has ruled that imports of cold-rolled steel from a number of markets were dumped on the U.S. market, but imposition of antidumping duties remains uncertain. At issue are imports from Argentina, Belgium, Brazil, China, France, Germany, South Korea, the Netherlands, New Zealand, Russia, South Africa, Spain, Taiwan, Turkey and Venezuela. Imposition of antidumping duties requires final affirmative determinations both from Commerce that dumping occurred and from the U.S. International Trade Commission (USITC) that the imports injured or threatened U.S. industry. The USITC is scheduled to make its final determinations in these cases by November 7. In July, the USITC rejected antidumping duties in parallel cases concerning cold-rolled steel from Australia, India, Japan, Sweden and Thailand, making a negative injury determination. Similarly, the USITC rejected antidumping duties for cold-rolled steel in a number of 1999-2000 cases even after Commerce determined that dumping took place. Except for those from Argentina, Brazil, South Africa, Turkey and Venezuela, the cold-rolled steel imports are already subject to 30-percent higher tariffs under President Bush's March action imposing temporary protection for the reeling U.S. steel industry while it restructures. Any antidumping duties imposed would be added to those tariffs imposed under Section 201 of U.S. trade law. In its September 25 final determination, the Commerce Department calculated the dumping margins as follows: -- Argentina: Siderar S.A.I.C. and all others, 27.18 percent. In addition, the Commerce Department made a final determination that some imports from Argentina, Brazil, France and Korea were subsidized. Any imposition of countervailing duties to offset the subsidies would also depend on affirmative USITC injury determinations. Commerce calculated the net subsidy rates as follows: -- Argentina: Siderar S.A.I.C., 0.87 percent. Dumping is the sale of an export good at a price below the home-market or a third-country price, or below the cost of production. The dumping margin is the price difference expressed as a percentage of the export price. A subsidy is a grant conferred on a producer by a government.
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