CIT Sends Back Commerce's Countervailability Finding on Exporter's Debt-to-Equity Restructurings
The Court of International Trade in a July 7 opinion sent back the Commerce Department's 2019 administrative review of the countervailing duty order on corrosion-resistant steel goods from South Korea. Judge Jennifer Choe-Groves said Commerce failed to adequately explain why…
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it deviated from its past finding that exporter KG Dongbu Steel's first through third debt-to-equity restructurings were not countervailable. The evidence cited by the agency in justifying deviating from this practice did not directly deal with these three restructurings and is thus "not a sufficient explanation to justify departing from its standard practice," the judge said. Choe-Groves also sent back Commerce's uncreditworthy benchmark rate since Commerce failed to address potentially contradictory evidence.