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June 17, 2019

United States Reportedly Will Cut Tariffs On Hot-Rolled Steel From South Korea

According to FX Street, sources say that the U.S. Commerce Department has promised to reduce its tariffs on hot-rolled steel products from South Korean steelmakers.

The department reportedly will reduce the countervailing duty (CVD) on hot-rolled steel sheets produced by POSCO from 41.57 percent to 0.55 percent after its annual review. The countervailing duty on hot-rolled steel from Hyundai Steel Co. will fall from 3.95 percent to 0.58 percent.

Stay tuned to Connecting the Dots as we learn more about this announcement.