U.S. Commerce Department Hits 10 Nations with Steel Tariffs

In a significant move on Tuesday, the U.S. Department of Commerce announced the imposition of anti-dumping and countervailing duties concerning steel imports. The decision follows investigations into corrosion-resistant steel products imported from 10 countries.

This measure impacts a massive $2.9 billion worth of imports. The countries targeted by these duties include Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates, and Vietnam.

The Commerce Department's action aims to address unfair trading practices and protect the U.S. steel industry by reducing the influx of low-cost steel imports adversely affecting the domestic market.

(With inputs from agencies.)