The U.S. Department of Commerce has imposed more duties on corrosion-resistant steel imports from China and elsewhere in an effort to protect its industry from a glut of steel imports from around the world.
On Wednesday, the department's International Trade Administration, which has conducted an investigation into the "dumping" of steel products into U.S. markets, said it had found the "dumping of imports of corrosive-resistant steel (CORE) products from China, India, Italy, Korea and Taiwan" by various steel producers that it named within those countries.
As a result, the department said that Chinese corrosion-resistant steel would be subject to a final anti-dumping duty of 210 percent and anti-subsidy duty of between 39 percent and up to 241 percent.
Anti-dumping and anti-subsidy tariffs of between 1 and 92 percent will apply to imports from various producers in South Korea, Italy, India and Taiwan (although it was exempted from anti-subsidy duty).
The U.S. said on Wednesday that in 2015, imports of CORE from China, India, Italy, Korea, and Taiwan were valued at an estimated $500.3 million, $219.6 million, $110 million, $509.1 million, and $534.4 million, respectively.