Tariffs & HTS
U.S. sets final 2023 CVD rates on Korean cold-rolled steel
Commerce issued final results of the countervailing duty (CVD) administrative review of certain cold-rolled steel flat products from Korea for January 1 through December 31, 2023. Final subsidy rates: Hyundai Steel Company 1.28% and POSCO 3.64% ad valorem. Cash deposits at these rates apply to entries on or after September 1, 2026; firms not reviewed keep their existing rates.
What changed
After comments on the March 5, 2026 preliminary results, Commerce changed POSCO's subsidy calculation.
Hyundai Green Power is treated as cross-owned with Hyundai Steel, and five POSCO group companies as cross-owned with POSCO; subsidies to POSCO International, the affiliated trading company through which POSCO exported some merchandise, are included in POSCO's rate.
CBP will assess CVD on the period's entries from Hyundai Steel and POSCO at these rates, with instructions no earlier than 35 days after publication; if a timely summons is filed at the Court of International Trade, liquidation waits until the time to request a statutory injunction has expired.
For non-reviewed firms, CBP keeps collecting deposits at the most recent company-specific rate or the all-others rate, as appropriate.
What an import team should check
- Match the producer and exporter on invoices for Korean cold-rolled steel against Hyundai Steel and POSCO, and ask your broker how goods exported through POSCO International are treated.
- Ask your customs broker to switch CVD deposits for Hyundai Steel and POSCO goods to 1.28% and 3.64% for entries made on or after September 1, 2026.
- Compare deposits paid on 2023 entries with the final rates and track their liquidation; assessment instructions go to CBP no earlier than 35 days after September 1, 2026.