US issues preliminary ruling on VN steelThe US Department of Commerce (DOC) on December 5 announced its preliminary affirmative ruling on corrosion-resistant steel (CORE) and certain cold-rolled steel flat products imported from Vietnam and produced from substrate originating in China. The US will collect cash deposits on imports of CORE and cold-rolled steel produced in Vietnam using Chinese-origin substrateAccordingly, cash deposits would be collected on imports of CORE and cold-rolled steel produced in Vietnam using Chinese-origin substrate. The rates on imports of cold-rolled steel produced in Vietnam using Chinese-origin substrate are 265.79 percent and 256.44 percent, respectively. These cash deposit rates were previously established in investigations on cold-rolled steel and CORE from China. The case was initiated in September when US steel producers, including ArcelorMittal USA, Nucor Corp., AK Steel Holdings Corp. and Steel Corp, filed lawsuits in which they claimed Chinese steel producers shipped products via Vietnam to evade tariffs.
Source: VietNamNet News December 07, 2017 04:41 UTC