Brass Rod: Commerce Issues Final CVD Determination for South Korea
The Commerce Department issued its final determination in its countervailing duty investigation on brass rod from South Korea (C-580-917). Suspension of liquidation is currently not in effect for entries on or after Jan. 27, 2024, and Commerce will only require cash deposits of estimated CVD on future entries if it issues a CVD order.
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Before Commerce issues a CVD order, the International Trade Commission must find injury to U.S. industry in its final injury determination, currently due May 30, Commerce said in a fact sheet. In the event of any ITC final determination of no injury, the investigation will be terminated with no duties imposed, and all cash deposits collected as a result of the investigation will be refunded.
Suspension of liquidation is in effect for antidumping duty purposes on brass rod from South Korea, with Commerce setting rates at 8.26% to 9.18% in a final AD determination also issued April 22 alongside final AD determinations on Brazil, India, Mexico and South Africa 2404220032). Commerce has also issued its preliminary determinations in AD/CVD investigations on brass rod from Israel (see 2309290024 and 2312140028), and recently issued a CVD order on brass rod from India (see 2402120062).
CV Susp/Cash Deposit Through Jan. 26
For now, Commerce has instructed CBP to continue the suspension of liquidation of subject merchandise from Korean companies entered Sept. 29, 2023, the date of Commerce's preliminary determinations, through Jan. 26, 2024.
CV Liq Reinstated and No CV Cash Deposit as of Jan. 27
Commerce previously instructed CBP to discontinue the suspension of liquidation for CVD purposes and the collection of CV duty cash deposits for subject merchandise from Korea entered on or after Jan. 27, the expiration date of the 120-day “provisional measures” period during which Commerce can suspend liquidation without a CVD order in place.
Suspension of liquidation currently remains in effect for AD purposes for subject merchandise from India.
CV Liq to Be Suspended Again and CV Cash Deposit Required if Order Issued
Commerce will issue a CVD order, reinstate the CVD suspension of liquidation for all Indian subject merchandise, and require a cash deposit of estimated CVD for entries of subject merchandise at the revised CVD rates listed below if the ITC issues a final affirmative injury determination.
| Company | CVD Rate |
|---|---|
| Booyoung Industry | 2.04% |
| Daechang Co. Ltd. and its affiliates Essentech Co., Ltd., IN Steel Industry Co., Ltd., Seowon Co., Ltd., Taewoo Co., Ltd., and IMI Co., Ltd. | 3.7% |
| All other companies | 2.87% |
(Note that there is no CVD liability, and no CVD will be assessed, on entries during the “gap period” of Jan. 27 until the date an ITC final affirmative injury determination is published in the Federal Register.)
(The period of investigation 01/01/22 - 12/31/22. See Commerce's notice for more information, including the scope of the order (unchanged), detailed instructions on cash deposit and assessment rates, changes since the preliminary determination, etc. See 2309290024 for a summary of the preliminary determination of this investigation.)