CIT Backs No Subsidies Ruling In Korean Steel Dispute

By Alyssa Aquino (January 14, 2022, 3:41 PM EST) -- A trade court upheld a South Korean steel plate tariff calculation rebuked by the Federal Circuit, saying the U.S. Department of Commerce had sufficiently explained why it ruled that Seoul hadn't subsidized steel producers by offering them low-cost electricity. 

A three-judge panel at the Federal Circuit had sent back Commerce's no subsidies finding in October 2020, panning Commerce for basing its decision on the rates charged by Korea Electric Power Corp. without considering if those prices reflected KEPCO's costs. After Commerce stood by its initial conclusions, Virginia-based Nucor Corporation accused it of snubbing the appeals court.

But Nucor had "mischaracterized" Commerce's...

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