China Cold-Rolled Steel: CV Rates Rise in Final Determination
The Commerce Department issued its final affirmative countervailing duty determination on cold-rolled steel flat products from China (C-570-030) (here). Suspension of liquidation is currently not in effect for entries on or after April 20, and Commerce will only require cash deposits of estimated CV duties on future entries if it issues a CV duty order.
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Commerce also issued a final affirmative determination in companion antidumping duty investigation (see 1605230020). The agency's final determinations in the countervailing duty investigations on cold-rolled steel flat products from Brazil, India and Russia, and the antidumping duty investigations on India, Brazil, South Korea and the United Kingdom, are due July 13.
Suspension of Liquidation Retroactive 90 Days for Most Indian Cos.
Commerce continued to find "critical circumstances" exist for Angang Group Hong Kong Co., Ltd., Benxi Iron and Steel (Group) Special Steel Co., Ltd. and Qian’an Golden Point Trading Co., Ltd. because they increased sales of subject merchandise before the preliminary determination in an attempt to get in as much product as possible before duties were imposed. As such, it will order CBP to continue to retroactively suspend liquidation for subject merchandise from these three companies back to Sept. 23, 2015, the date 90 days prior to the preliminary determination. For all other Chinese companies, suspension of liquidation will continue for entries on or after Dec. 22, 2015.
CV Susp/Cash Deposit Thru April 19
Commerce will instruct CBP to continue the suspension of liquidation of entries from Dec. 22, 2015 (or Sept. 23, 2015 for the "critical circumstances" companies listed above) through April 19, 2016.
CV Liq Reinstated and No CV Cash Deposit as of April 20
Commerce previously instructed CBP to discontinue the suspension of liquidation for CV duty purposes and the collection of CV duty cash deposits for subject merchandise entered on or after April 20, 2016, the expiration date of the 120-day "provisional measures" period during which Commerce can suspend liquidation without a CV duty order in place.
CV Liq to be Suspended Again & CV Cash Deposit Required if Order Issued
Commerce will issue a CV duty order, reinstate the suspension of liquidation, and require a cash deposit of estimated CV duties for entries of subject merchandise at the revised CV rates listed below if the International Trade Commission issues a final affirmative injury determination (due June 30).
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Angang Group Hong Kong Co., Ltd. | 256.44% (from 227.29%) | 09/23/15 |
| Benxi Iron and Steel (Group) Special Steel Co., Ltd. | 256.44% (from 227.29%) | 09/23/15 |
| Qian’an Golden Point Trading Co., Ltd. | 256.44% (from 227.29%) | 09/23/15 |
| All Others | 256.44% (from 227.29%) | 12/22/15 |
(Note that there is no CV duty liability, and no CV duties will be assessed, on entries during the "gap period" of April 20 until the date an ITC final affirmative injury determination is published in the Federal Register.)
(The period of investigation is 01/01/14 -- 12/31/14. See Commerce's notice for more information, including the scope of the order, detailed instructions on cash deposit and assessment rates, changes since the preliminary determination, etc. See 1512210017 for summary of the preliminary determination of this investigation.)
(Federal Register 03/14/16)