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Commodities

US slaps duties on Vietnam steel originating in South Korea and Taiwan

Tariff of up to 456% relates to dumping and subsidy violations

U.S. hikes up duties on steel that comes from South Korea and Taiwan.   © Reuters

WASHINGTON (Reuters) -- The U.S. Commerce Department said on Tuesday it would impose duties of up to 456% on certain steel produced in South Korea or Taiwan that are then shipped to Vietnam for minor processing and finally exported to the United States.

The agency said in a statement that it had found corrosion-resistant steel products and cold-rolled steel produced in Vietnam using substrate of South Korean or Taiwanese origin had circumvented U.S. anti-dumping and anti-subsidy duties.

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