Commerce to Require CV Cash Deposits on China Steel Wire Rod, Retroactive 90 Days for Some
The Commerce Department will require cash deposits of countervailing duties on steel wire rod from China, after finding illegal subsidization of Chinese exporters in a preliminary determination announced July 1 in a fact sheet. The agency calculated CV duty cash…
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deposit rates of 10.3%-81.36%. Commerce found "critical circumstances" in that all Chinese exporters except Benxi Steel increased exports of subject merchandise before the preliminary determination in an attempt to get as much product in as possible before duties were imposed, so Commerce will make suspension of liquidation and CV duty cash deposit requirements retroactive 90 days for all exporters except Benxi. Suspension of liquidation and cash deposit requirements for Benxi will take effect upon publication of Commerce’s preliminary determination in the Federal Register. ITT will have more details when it is published.