U.S. confirms duties on some steel imports from Asia, Europe

22/10/2014 12:00 - 489 Views

The United States on Tuesday confirmed duties on imports of non-oriented electrical steel from China, Germany, Japan, South Korea, Sweden and Taiwan after finding the goods were being sold too cheaply in U.S. markets.

The U.S. Department of Commerce said final anti-dumping duties ranged from 6.88 percent for South Korean companies, including Daewoo International, to as much as 407.52 percent for Chinese companies.

Japan's JFE Steel Corporation and Sumitomo Corporation face duties of 204.79 percent for the steel, used in motors, transformers and generators.

The complaint was brought by AK Steel Corporation.

Goods from Taiwan and China will face additional anti-subsidy duties. (For details of decision, see here)

The U.S. International Trade Commission will make its final decision in the case by Nov. 20

Source: Reuters