The U.S. has decided to impose antidumping and countervailing duties on hot-rolled steel flat products from South Korea, Australia, Brazil, Japan, the Netherlands, Turkey and the U.K.
 
The U.S. International Trade Commission(USITC), an independent, quasi-judicial federal agency that determines the impact of imports on U.S. industries, announced the decision on Monday.
 
South Korea’s POSCO and POSCO Daewoo were slapped with the highest rate of countervailing duties at over 57 percent. Hyundai Steel and other South Korean steelmakers are faced with countervailing duties of three-point-89 percent.
 
The USITC decided to levy antidumping duties of nine-point-49 percent on Hyundai Steel, three-point-89 percent on POSCO and five-point-55 percent on other South Korean companies.
 
South Korea exports hot-rolled steel flat products worth 500 to 700 million U.S. dollars to the U.S. a year.
 
Earlier this month, the USITC decided to impose tariffs of up to 65 percent on cold-rolled steel flat products exported by South Korea.