CVD Petitioner to Appeal Case on Whether Commerce Can Countervail Korean D/E Swaps
Countervailing duty petitioner Nucor Corp. will appeal a Court of International Trade case on whether the Commerce Department can countervail three debt-to-equity infusions made to exporter KG Dongbu Steel Co. in the 2019 CVD review on corrosion-resistant steel products from…
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South Korea. In the case, Judge Jennifer Choe-Groves said Commerce couldn't countervail the D/E swaps after previously refusing to do so in the prior CVD reviews, without finding a mistake of fact or analysis (see 2407030073). The judge then upheld the agency's decision not to countervail the restructurings on remand, finding that the evidence didn't support finding that the South Korean government pressured non-governmental institutions to take part in debt restructuring (see 2501170044) (KG Dongbu Steel Co. v. United States, CIT # 22-00047).