US raises anti-dumping duties on South Korean wire rod after exchange-rate error

The United States has quadrupled the preliminary anti-dumping duties on imports of South Korea-origin wire rod after officials admitted that they did not convert currency values correctly, according to a US Federal Register notice dated Tuesday November 28.

The preliminary weighted average dumping margin has been amended to 40.8%, with effect from November 28. Officials from the Department of Commerce forgot to convert a key metric from South Korean Won into US dollars, which resulted in a big “ministerial error,” the notice said. A ministerial error is a clerical or other unintentional error, under US trade law. “We intend to disclose the calculations performed to parties in this proceeding within five days after public announcement of the amended...


Nat Rudarakanchana

November 30, 2017

20:32 GMT

New York