UPDATE 1-U.S. locks in hot-rolled steel dumping duties on seven countries
(Adds duties for specific countries, steelmakers)
By David Lawder
WASHINGTON Aug 5 (Reuters) - The U.S. Commerce Department on Friday set final anti-dumping duties on hot-rolled flat steel from Japan, South Korea, Turkey, Britain, Brazil, the Netherlands and Australia on Friday, locking in import taxes of 3.7 percent to about 34.3 percent for five years.
The ruling, which could still be overturned by the U.S. International Trade Commission, is the latest in a series of U.S. actions aimed at fighting a glut of steel imports as China's economy slows and demand remains weak elsewhere.
The department also imposed final anti-subsidy duties of 3.9 to 11.3 percent against most steelmakers in Brazil, Turkey and South Korea, but slapped 57 percent anti-subsidy duties on top Korean steelmaker POSCO and Daewoo International Corp.
The final duty rates follow preliminary determinations in January and March.
The highest anti-dumping taxes of 34.3 percent were imposed against Brazil's Usiminas, with all other Brazilian producers facing 33.1 percent margins and just over 11 percent anti-subsidy duties.
The Brazlian government has threatened to challenge the U.S. duties before the World Trade Organization.
Britain's Tata Steel UK saw its U.S. anti-dumping margin reduced from nearly 50 percent in the preliminary finding to about 33 percent, while Tata Steel's Netherlands operations faces final dumping duties of 3.73 percent. Continuación...