The U.S. Department of Commerce (U.S. Department of Commerce) has maintained the existing anti-dumping duties on construction steel rebar from Ukraine, Belarus, Indonesia, Latvia, Moldova, Poland and China.
According to the Ministry of Commerce in the Federal Register on December 13 this year, such conclusions are contained in the findings of the United States International Trade Commission (USITC) dated December 10, 2024, following the fourth five-year review of the duties.
The document emphasizes that the USITC believes that the elimination of duties on rebar from Belarus, China, Indonesia, Latvia, Moldova, Poland, and Ukraine “is likely to result in continued or recurring material injury to the U.S. industry within a reasonable foreseeable time.”
It is specified that the Commission decided to conduct the review of the duties on November 1, 2023. Hearings on this topic were held on October 3, 2024.
As reported, on November 1, 2023, the U.S. Department of Commerce published information on the initiative of the fourth review of anti-dumping duties on rebar from seven countries.
The amount of the duty on the supply of Ukrainian reinforcing bars (Steel Concrete Reinforcing Bars) to the US market since their introduction (2002) is 41.69%.
It was also reported that in mid-2000, the Rebar Trade Action Coalition (RTAC), an association of American producers of iron bars, and its individual members, Ameri Steel (Tampa, FL), Auburn Steel Co, Inc. (Auburn, NY), Birmingham Steel Corp. (Birmingham, AL), Border Steel, Inc. (El Paso, TX), CMC Steel Group (Seguin, TX), Marion Steel Co. (Marion, OH), Nucor Steel (Darlington, SC) and Riverview Steel (Glassport, PA) – filed a petition with the International Trade Commission to initiate an anti-dumping investigation against imports of these products, in particular from Ukraine.
The Ukrainian respondent in this investigation was Kryvorizhstal, which was later acquired by Mittal Steel, renamed ArcelorMittal.
In mid-2001, the Commission recognized that rebar supplies, in particular from Ukraine, were harming U.S. producers of similar products by supplying them at dumped prices, and in 2002 an anti-dumping duty of 41.69% was imposed.
Under US law, anti-dumping duties are reviewed every five years.
“ArcelorMittal Kryvyi Rih is the largest rolled steel producer in Ukraine. It specializes in long products, including rebar and wire rod.
Ukraine has received a $1.35 billion grant from the United States, Prime Minister Denys Shmyhal said.
“The U.S. government has allocated funding through the U.S. Agency for International Development (USAID) and in coordination with the U.S. Treasury Department and the U.S. Department of State,” Shmyhal wrote on his Telegram channel.
According to him, the funds will be used for priority humanitarian and social programs.
“The funding raised is aimed at reimbursing priority social and humanitarian expenditures of the state budget, in particular, to ensure the payment of salaries to educators,” the press service of the Ministry of Finance said.
It is noted that the funds were transferred to the state budget of Ukraine through the World Bank’s Public Expenditure Support for Sustainable Governance in Ukraine (PEACE in Ukraine) project.
“Since February 2022, direct budget support from the United States has reached $28.2 billion. This is the largest financial assistance to Ukraine among all countries of the world (…),” said Finance Minister Sergii Marchenko.
The Ministry of Finance reminds that this year Ukraine expects $7.8 billion in budget support from the United States, of which $5.2 billion has already been mobilized.
In January-August this year, Ukraine reduced pig iron exports in physical terms by 19.8% compared to the same period last year, to 749.454 thousand tons. According to statistics released by the State Customs Service (SCS) on Friday, pig iron exports in monetary terms decreased by 19.6% to $286.447 million during the period.
At the same time, exports were carried out mainly to the United States (66.28% of supplies in monetary terms), Italy (10.03%) and Turkey (9.85%).
In the first eight months of the year, the country imported 15 tons of pig iron worth $37 thousand from Germany (in January, March, May, June, July and August, there were no imports), while in the same period in 2023, it imported 65 tons of pig iron worth $97 thousand.
As reported, in 2023, Ukraine reduced pig iron exports in physical terms by 5.8% compared to 2022 – to 1 million 248.512 thousand tons, while exports in monetary terms decreased by 26.2% to $471.467 million. Deliveries were made mainly to Poland (51.91% of supplies in monetary terms), Spain (21.41%) and the United States (13.15%).
In 2023, Ukraine imported 154 tons of pig iron worth $156 thousand from Germany (42.31%), Brazil (41.67%) and Poland (16.03%), compared to 40 tons of pig iron worth $23 thousand in 2022.
Ukraine has begun exporting organic millet to the United States, certification company Organic Standard reported on Facebook.
“The products are certified in accordance with the COR (Canadian Organic Regime) standard, but the certificate for import to the United States was issued through the Integrity electronic system, which confirms the equivalence of organic requirements of Canadian and US standards,” the statement said.
“Such shipments demonstrate in practice how one certificate in accordance with the COR standard, taking into account equivalence, can cover two large markets at once – the United States and Canada,” the certification body explained.
Organic Standard LLC is the first Ukrainian certification body that inspects and certifies organic production. It was established in 2007 as part of the Ukrainian-Swiss project “Organic Certification and Organic Market Development in Ukraine”.
The United States will soon announce an additional $2.3 billion in security assistance to Ukraine, which will include anti-tank weapons, interceptors and ammunition for the Patriot and other air defense systems, U.S. Secretary of Defense Lloyd J. Austin III said.
“I am proud that the United States will soon announce more than $2.3 billion in new security assistance to Ukraine. This package will provide more air defense interceptors, anti-tank weapons, and other critical munitions from U.S. stockpiles, within the President’s authority…and will be delivered to Ukraine,” the Pentagon press service quoted Austin as saying before the talks with Ukrainian Defense Minister Rustem Umerov.
The Defense Minister noted that the announced aid package will also allow the United States to purchase more Patriot and NASAMS air defense interceptors, which will be delivered in an accelerated time frame due to a change in the order of deliveries for some foreign military sales.
In addition, the Pentagon chief noted that ahead of next week’s NATO summit in Washington, the United States will take “steps to build a bridge to Ukraine’s NATO membership.”
He added that he looked forward to “the opportunity to discuss further ways to meet Ukraine’s urgent security needs and build a future force capable of withstanding Russian aggression.”
“Ukraine does not stand alone, and the United States will never waver in its support. Together with our 50 allies and partners, we will continue to provide the critical capabilities Ukraine needs to repel Russian aggression today and deter it tomorrow,” Austin assured.
In turn, Umerov thanked Austin for his comprehensive assistance and support.
“Thanks to this support, we have stopped Russia, stopped its aggression against people, our values and national interests. And we look forward to discussing with you how we could continue our partnership and become a NATO member in the future. I hope that Ukraine will soon receive an invitation. But for now, we will discuss how to increase our capabilities and plans,” Umerov said.
Ukraine’s President Volodymyr Zelenskyy said on Sunday that Russia had dropped more than 800 guided aerial bombs on Ukraine in the past week alone. He called on the leaders of the countries to ease restrictions on the use of Western weapons to strike military targets in Russia. In particular, he said that Ukraine needs “the necessary means to destroy the carriers of these bombs, including Russian warplanes, wherever they are.”
The number of companies in the U.S. and Canada hit by cyber extortion has reached a record high in 2023, with unprecedented ransom demands, according to the report “Ransomware: a persistent problem in cyber insurance claims” by global insurance broker Marsh, according to its website.
It notes that nevertheless, as cybercriminals become bolder in their requests, more companies are refusing to pay.
Overall, 21% of Marsh’s clients reported cyber events in 2023, the vast majority of which were privacy claims and system attacks leading to unauthorized access and potentially exposed data.
According to Marsh , this rate has remained fairly stable over the past five years – between 16% and 21% – suggesting in part that companies’ cyber controls are keeping pace with the increasing sophistication and frequency of cyberattacks.
However, a record 282 ransomware incidents were reported to Marsh in 2023, a 64% increase from 2022. Although ransomware accounts for only 17% of all filed cybercrimes, ransomware remains a major concern for organizations given its increased frequency, sophistication, and potential severity.
Indeed, the average ransom demand rose to $20 million in 2023 from $1.4 million, while the average payment made was $6.5 million, reflecting the effectiveness of ransomware negotiations, Marsh notes in the report.
Only 23% of its clients affected by cyber extortion in 2023 paid ransom. Most (77%) refused, reflecting a growing trend. In 2021, only 37% of Marsh’s clients rejected cybercriminals’ demands.
