Vietnamese cold-rolled and coated flat-rolled steel made from Chinese substrate is circumventing US duties, the Commerce Department said in a preliminary determination on Tuesday December 5, with cash deposits set as high as 522.23%.
The duties will apply to all shipments that entered the US since November 4, 2016, the date the circumvention petitions were initiated.
US Customs and Border Protection will collect anti-dumping duties of 199.43% and countervailing duties of 39.05% on coated material, with those for cold-rolled at 265.79% and 256.44% respectively - the same duties applied to Chinese product.
Importers of cold-rolled and coated made from Vietnamese steel or that from third-party countries can seek an exemption from potentially massive cash deposits if they can certify that the substrate didn't come from China, Commerce said.
The agency plans to announce its final determination on February 16, 2018.
Preliminary decisions in the Vietnam circumvention cases have had multiple delays. Commerce last month cited their complexity, which could result in a precedent-setting change to the definition of "substantial transformation."