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The U.S. International Trade Commission on Wednesday voted to extend U.S. anti-dumping and anti-subsidy duties on cold-rolled flat steel from China, India, Japan, South Korea and Britain for another five years, but revoked such duties on the same products from Brazil.
The commission’s decision in its five-year “sunset” review marks a significant victory for domestic steelmakers, locking in hefty duties that will keep Chinese-produced flat steel largely out of the U.S. market for another five years.
Cold-rolled flat steel, used in automotive and appliance manufacturing, is among the highest-volume and most profitable products for US producers, which were dramatically losing market share to foreign producers before the duties were imposed in 2016.
Additional “Section 232” national security tariffs of 25% were imposed by former President Donald Trump two years later, and the ITC’s decision does not affect those.
Weighted average anti-dumping duty rates on imports of cold rolled flat steel are currently 265.8% for China, 71.35% for Japan, 28.4% for South Korea, 25.2% for Britain and 7.6% for India.
The commission determined that removing the duties from all but Brazilian cold-rolled flat steel would “be likely to lead to continuation or recurrence of material injury” to domestic producers within a “reasonable period of time,” it said in a statement.
The ITC said removing the duties from Brazil would not likely result in such injury.
The decision comes as U.S. steel prices are normalizing after shortages induced by the COVID-19 pandemic recovery drove them to record levels last summer.
