Hot-Rolled Steel Flat Products: Prelim CV Cash Deposit Rates Take Effect
The Commerce Department made preliminary affirmative countervailing duty determinations that imports of hot-rolled steel flat products from Brazil (C-351-846) (here) are being illegally subsidized. The agency will suspend liquidation and impose CV duty cash requirements on entries of subject merchandise from Brazil beginning on Oct. 17 or Jan. 15, depending on whether Commerce found "critical circumstances" for the producer/exporter of the merchandise.
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Commerce did not find any illegal subsidization of hot-rolled steel flat products from South Korea (C-580-884) and Turkey (C-489-827), and will not suspend liquidation or impose cash deposit requirements at this time, it said (here) and (here). Merchandise subject to this investigation is also the subject of an antidumping duty investigation. The preliminary AD duty determination is currently due in March (see 1511240006).
Critical Circumstances for Some, Cash Deposits Retroactive 90 Days
Commerce made a finding that some companies in Brazil increased their exports to the U.S. in the months before this the preliminary determination, in an attempt to get in as much product as possible before the imposition of cash deposit requirements. This "critical circumstances" finding by the agency allows it to retroactively suspend liquidation and require AD duty cash deposits for subject merchandise for CSN and Usiminas to 90 days before the preliminary determination, i.e. Oct. 17. Merchandise from all other companies is subject to suspension of liquidation and cash deposit requirements beginning Jan. 15.
CV Suspension of Liquidation and Cash Deposit Requirements
Commerce will instruct CBP to suspend liquidation for all entries of subject merchandise from Brazil that are entered, or withdrawn from warehouse, on or after the dates listed in the tables below, and require cash deposits at the following rates:
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Companhia Siderurgica Nacional (CSN) | 7.42% | 10/17/15 |
| Usinas Siderurgicas de Minas Gerais S.A. (Usiminas) | 7.42% | 10/17/15 |
| All Others | 7.42% | 01/15/16 |
(The period of investigation is 01/01/14 - 12/31/14. See Commerce's notice for more information, including the scope (unchanged since initiation), suspension of liquidation, etc. See 1509080013 for summary of the initiation of this CV duty investigation, and 1508120013 for summary of the underlying petition.)
(Federal Register 01/15/15)