U.S. Department of Commerce Announces Preliminary Findings on Korean Hot-Rolled Steel
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On April 10, 2026, the U.S. Department of Commerce released the preliminary results of its review of certain hot-rolled steel flat products from Korea. This decision was published in the Federal Register, Volume 91, Number 69. The review covers the period from January 1, 2023, to December 31, 2023.
Key Findings:
- Subsidies Detected: It was found that producers and exporters of certain hot-rolled steel from Korea received countervailable subsidies during the review period. Countervailable subsidies are government financial aid measures that provide a benefit to local producers and are specific to certain enterprises or industries.
- Companies Assessed: The review primarily focused on two companies, Hyundai Steel Company and POSCO. Hyundai Steel is also associated with companies like Hyundai Green Power and Hyundai ITC Co., Ltd., while POSCO includes affiliates like POSCO International Corporation and others.
- Subsidy Rates: The U.S. Department of Commerce preliminarily set countervailable subsidy rates at 1.28% for Hyundai Steel Company and 3.71% for POSCO.
Partial Rescission of Review:
The Department of Commerce decided to rescind the review for 13 companies as they had no entries of subject merchandise during the review period. Some of these companies include Dongbu Incheon Steel Co., Ltd., Dongkuk Steel Mill Co., Ltd., and POSCO Daewoo Corporation.
Processes and Procedures:
– The review began with a notice on November 14, 2024, and covered countervailable subsidies as per the regulations in the Tariff Act of 1930.
– Information was verified for accuracy. The interested parties are invited to submit comments on the preliminary findings. They may file case briefs and request hearings for further discussions.
Final Results and Next Steps:
After considering feedback from interested parties, the Department of Commerce will finalize its findings. It expects to issue the final results within 120 days of the preliminary announcement. The conclusion of this review will impact future cash deposits for countervailing duties on Korean steel products entering the United States.
This detailed process reflects the ongoing commitment of the U.S. government to enforce fair trade practices and ensure a level playing field in international trade.
Legal Disclaimer
This article includes content collected from the Federal Register (federalregister.gov). The content is not an official government publication. This article is for informational purposes only and does not constitute legal advice. For case-specific consultation, please contact us. Read our full Legal Disclaimer, which also includes information on translation accuracy.
