China Steel Wire Rod: Details of CV Duty Order
The Commerce Department issued a countervailing duty order on carbon and certain alloy steel wire rod from China (C-570-013) (here). The order details a "gap period" of no CV duty liability of Nov. 5 - Jan. 7, as well as a refund of cash deposits collected on entries from China from April 9 through July 7.
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With the issuance of this order, CV duties on steel wire rod from China become permanent, and can only be ended under certain conditions, like a sunset review or a changed circumstances review. Commerce will now begin conducting annual administrative reviews on exporters, if requested, to determine final assessments of CV duties and make changes to CV duty cash deposit rates.
Refund of China CV Cash Deposits Collected April 9 - July 7
Although Commerce found in its final determination that "critical circumstances" existed for imports of steel wire rod from China, and made suspension of liquidation retroactive 90 days, the International Trade Commission overturned Commerce's decision in its final injury determination. As a result, Commerce will refund CV duty cash deposits collected on shipments entered between April 9, 2014 and July 7, 2014. Cash deposit requirements for subject merchandise entered on or after July 8, 2014 are still in effect.
Gap Period of No CV Suspension of Liq or CV Duties for Nov. 5 - Jan. 7
For this investigation, the four-month provisional measures period for which the CV suspension of liquidation may remain in effect before the order is issued began on July 8 (the publication date of the preliminary determination) and ended Nov. 5, the date Commerce instructed CBP to terminate suspension of liquidation.
Because the publication date of the International Trade Commission's final affirmative injury determination is Jan. 8, Commerce said all entries of subject merchandise between Nov. 5 and Jan. 7 (the gap period) are not liable for CV duty assessment.
(For entries on or after July 8 through Nov. 4, suspension of liquidation and CV duty liability remains in effect.)
CV Suspension of Liq Instructions
Suspension of liquidation resumes for all entries of subject merchandise from China with a time of entry beginning Jan. 8, the publication date of the final ITC affirmative injury determination.
CV Cash Deposit Instructions
Commerce will instruct CBP to require, at the same time as importers deposit estimated duties, a cash deposit equal to the CV duty rates listed below:
| Company | CV Rate |
|---|---|
| Benxi Steel* | 193.31% |
| Hebei Iron & Steel Co Ltd Tangshan Branch | 178.46% |
| All Others | 195.89% |
*Includes Benxi Beiying Iron & Steel Group Import & Export Corp.; Benxi Beiying Iron & Steel (Group) Co., Ltd.; Benxi Steel Group Corporation; Beitai Iron & Steel (Group) Co., Ltd.; Benxi Northern Steel Rolling Co., Ltd.; Benxi Beifang Gaosu Steel Wire Rod Co., Ltd.; Benxi Beitai Gaosu Steel Wire Rod Co., Ltd.; Benxi Northern Steel Co., Ltd.; Benxi Beifang Second Rolling Co., Ltd.; Benxi Beitai Ductile Iron Pipes Co., Ltd.;
Benxi Iron and Steel (Group) Metallurgy Co., Ltd.; Benxi Iron and Steel (Group) Real Estate Development Co., Ltd.; Benxi Iron & Steel (Group) Co., Ltd.; Bei Tai Iron and Steel Group Imp. and Exp. (Dalian) Co., Ltd.; and Bengang Steel Plate Co., Ltd.
(See notice for additional details, including the full scope description, etc. See 1412150066 for summary of ITC vote on injury, and 1411180010 for summary of Commerce's final determination.)
ITC final injury determination (Federal Register 01/08/14) is available (here).
(Federal Register 01/08/15)