U.S. Court put brake on tariffs on steel imported from S. Korea

Seoul - This is the first time that not the U.S. administration but a U.S. court ruled so.

Seoul - The U.S. Court of International Trade (CIT) ruled, on December 15 (local time), that South Korea’s industrial electricity price does not benefit as a subsidy in the lawsuit which Maverick Tube Corporation and the U.S. Department of Commerce filed against Seah Steel in October this year. This is the first time that not the U.S. administration but a U.S. court ruled so.
Earlier, the Department of Commerce imposed countervailing and anti-dumping duties on South Korean steelmakers, claiming that steel imported from South Korea benefited from the industrial electricity price as a subsidy. However, the court ruling put a brake on the imposition of such duties and the disputes between the two countries in the steel industry are likely to enter a new phase.
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