FACT SHEET

Final Determinations in the Antidumping Duty Investigations on Certain Cold-Rolled Carbon Steel Flat Products from Argentina, Belgium, Brazil, France, Germany, Korea, the Netherlands, New Zealand, the People's Republic of China, the

Federation, South Africa, Spain, Taiwan, Turkey, and Venezuela

Final Determinations in the Countervailing Duty Investigations on Certain Cold-Rolled Carbon Steel Flat Products from Argentina, Brazil, France, and Korea

On Tuesday, September 24th, the Department of Commerce (the Department) announced its final determinations in the above-noted antidumping (AD) and countervailing duty (CVD) investigations on imports of cold rolled steel.

The International Trade Commission (ITC) is scheduled to make its final injury determinations in these investigations on November 7th. If the ITC should make negative determinations, the investigations will be terminated, and no duties will be imposed. However, if the ITC makes affirmative determinations, then the Department will instruct the U.S. Customs Service to collect duties.

Section 201/ Safeguard Remedy
Imports of cold-rolled steel from some of these countries are also subject to an initial tariff of 30 percent under the President's remedy under Section 201. Excluded from 201 relief on the basis of their developing country status are: Argentina, Brazil, South Africa, Turkey, and Venezuela. If these investigations go to order, then any subsequent AD and/or CVD duties would be imposed in addition to the tariffs imposed under Section 201.

Petitioners
The petitions in these cases were filed by Bethlehem Steel Corporation, National Steel Corporation, Nucor Corporation, Steel Dynamics, Inc., United States Steel Corporation, WCI Steel, Inc., and Weirton Steel Corporation, and LTV Steel Company, Inc. Weirton Steel Corporation is not a petitioner in the investigation on imports from the Netherlands. LTV is no longer an active petitioner in these investigations, as it liquidated its assets due to bankruptcy.

Previous Investigations
In 1999-2000, the Department conducted AD investigations on imports of cold-rolled steel from a number of the countries included in these investigations. At that time, the ITC made a final determination that the domestic industry was not materially injured, or threatened with material injury as a result of the imports then under investigation, and the investigations were terminated.

In July 2002, AD investigations on imports of cold-rolled steel from Australia, India, Japan, Sweden, and Thailand were terminated when the ITC found that the domestic industry was not injured or threatened with injury as a result of these imports.

Suspension Agreement on Imports from Russia
We signed an agreement with Russian cold rolled steel producers suspending the AD investigation. This is the first such agreement since Russia was graduated to market-economy status. The terms of the agreement require Russian producers to sell cold-rolled steel above a "normal value," constructed using Russian producers' costs. In addition, the Agreement includes a provision that would allow the Department to recognize that certain prices may be distorted in the Russian economy and make adjustments accordingly. On September 24, the Russian steel producers requested that the Department continue the investigation. If the ITC makes a negative injury determination, the investigation, and the suspension agreement, would be terminated.

Critical Circumstances:
Petitioners alleged that critical circumstances exist with regard to imports from Argentina, the Netherlands, the People's Republic of China (PRC), the Russian Federation, South Africa, South Korea, and Taiwan. We found that critical circumstances did exist for imports from the Netherlands, the PRC, South Korea (with the exception of imports from Dongbu Steel Co.) and the Russian Federation, while critical circumstances do not exist for imports from Argentina, South Africa, and Taiwan. If the Department and the ITC make final affirmative determinations that critical circumstances do exist with regard to imports of cold rolled steel from the PRC and Russia, countervailing and antidumping duties may be assessed retroactively on goods imported up to 90 days prior to the publication of the Department's preliminary determinations.

Case Calendar: