U.S. puts 115% tariff on stainless steel

The U.S. Department of Commerce decided Jan. 10 to impose a 115 percent preliminary antidumping tariff on stainless steel angle made in Korea, Japan and Spain.

The tariff will take effect Jan. 16, so importers must deposit cash or securities equivalent to the dumping margin set by the authorities.

Last August, two U.S. stainless steel angle makers, in association with AFL-CIO union and Federal Steel Union, brought a suit to the Department of Commerce and International Trade Committee against stainless steel makers, including those in Korea, on dumping charges.