U.S. DoC Determines to Impose 16.74-119.87% Import Tax and 8.6% Subsidy Tax on Steel Threaded Rod from India

In the beginning of July, U.S. Department of Commerce (DoC) has announced the final determination for the issue concerning steel threaded rod imported from India, which confirms the India’s governmental subsidies to Indian threaded rod manufacturers and the sales at less than the normal value in U.S. market (it is estimated that the threaded rod imported to the U.S. reached the value of US$ 19 million), causing material injury to U.S. manufacturers. Accordingly, U.S. DoC determined to impose 16.74-119.87% import tax and 8.6% subsidy tax on certain products imported from India. In addition to the respective import tax for Mangal Steel Enterprises Limited (at 16.74%) and Babu Exports (at 119.87%), all other Indian manufacturers and exporters will have to face the tax rate of 16.74%.