Petitioner Challenges 2022 CVD Investigation on South Korean Corrosion-Resistant Steel
Petitioner Nucor Steel filed a July 11 complaint challenging the Commerce Department’s 2022 countervailing duty reviews on certain corrosion-resistant steel products from South Korea. It said again that Commerce should have countervailed three debt-to-equity swaps received by mandatory respondent KG Dongbu Steel in 2015 and 2016, an issue that previously arose in the 2019 administrative review (see 2504110057) (Nucor Corp. v. United States, CIT # 25-00107).
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The Court of International Trade remanded the results of that 2019 review in January (see 2501170044). Commerce had originally chosen to countervail the three debt-to-equity swaps, which involved both government-controlled and private banks, but reversed positions after the remand (see 2407030073). CIT explained that Commerce had no reason to countervail the swaps after declining to do so in three prior reviews; Nucor is challenging the ruling at the U.S. Court of Appeals for the Federal Circuit.
In its July 11 complaint, the petitioner alleged that the results of the 2022 review, in which Commerce reverted to refusing to countervail the debt-to-equity swaps, were unsupported by substantial evidence.