U.S. Commerce Dept. Says Steel From Mexico, China Received Unfair Subsidies

Jul.8 (Dow Jones) -- The U.S. Commerce Department on Monday said it made a preliminary determination that imports of fabricated structural steel from China and Mexico received unfair subsidies.

The department also said it found such steel imported from Canada wasn't the recipient of unfair subsidies.

The department said the size of the subsidies given to Mexican and Chinese steel were "countervailable," meaning the subsidy could be offset, or "countervailed," through higher import duties.

As a result, the Commerce Department said it will instruct the U.S. Custom and Border Protection Agency to collect cash deposits from importers of fabricated structural steel coming from China and Mexico.

The Commerce Department said it will make a final determination around November 19. If the final determination remains consistent with today's decision, the U.S. International Trade Commission will make a final injury determination around January 2 of next year.

In 2018, imports of fabricated structural steel from Canada were valued at around $722.5 million. Chinese imports of the steel were valued at about $897.5 million and those from Mexico were valued at $622.4 million, the Commerce Department said.

Fecha de publicación: 08/07/2019