Anti-dumping charges on Korean steel beams

The U.S. government has made its final decision to impose anti-dumping charges on Korean-made steel beams, so it is expected to hit Korea`s export of steel beams to the United States.

Korea Trade-Investment Promotion Agency (KOTRA) said that the International Trade Commission of the United States ruled July 13 that Korean steel beams are imported below the fair price and are hurting its industries. So, the Commerce Department has decided to levy additional tariff on Korean products as much as anti-dumping and countervailing duty.

The U.S. Commerce Department has decided dumping margins of 25.51% for Inchon Iron & Steel, 49.73% for Kangwon Ind. and 37.72% for other manufacturers. The countervailing duties are 0.15% for Inchon Iron & Steel, 3.88% for Kangwon Ind., 1.34% for Tongkuk Steel and 3.87% for other producers.

The investigation on Korean steel beams has begun in July last year when four American manufacturers filed a complaint to the Commerce Department and ITC that Korean-made products, subsidized by the government, are selling below fair price in the United States.

Last year, Korea exported 400,523 tons of steel beams worth US$122.94 million to the United States, accounting for 21% of the nation`s imported steel beam market.