South Korea CTL Plate: Amended Final Results of CV Duty Admin Review
The Commerce Department is amending the final results in a countervailing duty administrative review on certain cut-to-length carbon-quality steel plate (CTL plate) from South Korea (C-580-837), covering entries during the calendar year 2018 review period, it said in a notice released March 25. It said its revision to the countervailable subsidy rate assigned to Hyundai Steel Company is due to a recent court judgment that affected the way it calculated the rate.
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However, because Hyundai Steel has a superseding cash deposit rate -- this is because there have been final results published in a subsequent administrative review -- Commerce said it will not issue revised cash deposit instructions to CBP, and the current cash deposit rate will not be affected.
In a correction to the calculation error, Commerce is amending CV duty rates as follows,effective March 28:
| Producer/Exporter | CV Rate |
|---|---|
| Hyundai Steel | 0.49%* |
* Indicates a de minimis subsidy rate, and is effectively zero percent.
Liquidation of Suspended Entries
Commerce noted that it is still enjoined by Court of International Trade order "from liquidating entries that were produced and/or exported by Hyundai Steel, and were entered, or withdrawn from warehouse, for consumption during the period January 1, 2018, through December 31, 2018." This will continue during any appeals that may be filed, or, if the ruling is not appealed, or, if appealed, and is upheld by a final and conclusive court decision, Commerce will instruct CBP to assess countervailing duties on unliquidated entries of subject merchandise produced and/or exported by Hyundai Steel following the guidelines. This means that with Hyundai Steel's de minimis rate, as revised, Commerce will instruct CBP to liquidate the appropriate entries without regard to countervailing duties.
(The review period is 01/01/18 - 12/31/18. See Commerce's notice for more information. See 2203010050 for the preliminary results of the calendar year 2020 administrative review underway; the final results will determine the current rate.)