AK STEEL APPLAUDS MEASURE AGAINST IMPORTS OF STEEL FROM BRAZIL, CHINA, INDIA AND RUSSIA

AK Steel  said that it applauds the U.S. Department of Commerce's preliminary determinations that imports of cold-rolled steel from Brazil, China, India, and Russia are benefiting from unfair government subsidies and should be subject to countervailing duties.  

As a result, the Commerce Department will instruct U.S. Customs and Border Protection ("CBP") to begin requiring U.S. importers of cold-rolled steel from these four countries to deposit estimated countervailing duties at the time of importation as follows:

			Country	Subsidy Rate
			Brazil	7.42 percent
			China	227.29 percent
			India	4.45 percent
			Russia	6.33 – 0.0 percent

With respect to South Korea, the Commerce Department found that countervailable government subsidies were not in excess of the de minimis level of one percent.