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WASHINGTON (Yonhap News) ― The U.S. government has decided to revoke antidumping and countervailing duties on corrosion-resistant carbon steel flat products from South Korea and Germany, industry sources said Saturday.
The International Trade Commission voted unanimously to allow the duties, which have been in place since 1993, to expire after a mandatory five-year, or sunset, review of the issue.
“Antidumping relief is not intended to be permanent,” said Don Cameron of the International Trade Group of Morris, Manning & Martin, LLP. “These orders have been in place for 20 years. The ITC made the right decision.”
The firm represented the primary producers of corrosion resistant steel, known as CORE, in South Korea, including POSCO, Hyundai Hysco, Dongbu Steel, and Union Steel.
The ITC’s decision made earlier this week is based on a conclusion that products from South Korea and Germany would not be likely to lead to continuation or recurrence of material injury “within a reasonably foreseeable time.”
The International Trade Commission voted unanimously to allow the duties, which have been in place since 1993, to expire after a mandatory five-year, or sunset, review of the issue.
“Antidumping relief is not intended to be permanent,” said Don Cameron of the International Trade Group of Morris, Manning & Martin, LLP. “These orders have been in place for 20 years. The ITC made the right decision.”
The firm represented the primary producers of corrosion resistant steel, known as CORE, in South Korea, including POSCO, Hyundai Hysco, Dongbu Steel, and Union Steel.
The ITC’s decision made earlier this week is based on a conclusion that products from South Korea and Germany would not be likely to lead to continuation or recurrence of material injury “within a reasonably foreseeable time.”
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Articles by Korea Herald
