The US Department of Commerce has decided to sharply reduce its tariffs on hot-rolled steel products from South Korean steelmakers, industry sources said Friday, according to Yonhap.
The US government recently slashed the countervailing duty (CVD) on hot-rolled steel sheets produced by POSCO from 41.57% to 0.55% after its annual review. Further, the CVD on hot-rolled steel from South Korea’s second largest steelmaker Hyundai Steel Co. has been lowered from 3.95% to 0.58%.
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