USA sets preliminary tax rates on imports of Chinese wire

The International Trade Administration (ITA), under the US Department of Commerce, has introduced provisional tax rates on imports of carbon steel wire rod entering the US market from China. The tax ranges from 10.3 percent to 81.36 percent, and came into force on July 1 of the year.

According to reports, Hebei Iron & Steel Co, Ltd received the provisional tax rate at a maximum of 81.36 percent. Benxi Beiying Iron & Steel Group Co. Ltd. and its 13 affiliates received a preliminary decision at a minimum of 10.3 percent. All other Chinese wire rod manufacturers are subject to a 10.3 percent tax.

United States imports of hot rolled carbon steel and alloy steel rods from China totaled $ 313 million throughout 2013. The imposition of the provisional tax base was made in response to a complaint filed by domestic specialists from companies including ArcelorMittal USA, charter companies Steel, Evraz Pueblo, Gerdau Ameristeel, Keystone and Nucor Corporation.

The US Department of Commerce is expected to announce a final decision on this issue by November 12 this year.

Earlier, the Commission made a positive decision regarding the existing countervailing duty on wire rod made of carbon and certain steel alloys from Brazil and anti-dumping duties on products from Trinidad and Tobago, Moldova, Mexico, Indonesia. However, the commission made a negative decision regarding the existing anti-dumping duties on products from Ukraine.