According to Reuters, the US Department of Commerce announced Tuesday that it would impose a punitive tariff of up to 456% on steel products from Taiwan and South Korea. The U.S. Department of Commerce said in a statement that the steel products were shipped to Vietnam for minor processing and then exported to the United States to avoid anti-dumping and countervailing duties.
The statement said that the United States imposed anti-dumping and countervailing duties on Korean and Taiwan steel products in December 2015 and February 2016, respectively. From then on to April this year, the number of corrosion-resistant steel and cold-rolled steel exported from Vietnam to the United States increased by 332% and 916% respectively compared with the same period before.
Reuters said the U.S. Department of Commerce launched an investigation at the request of several U.S. steel manufacturers.
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