22 September 2023, Tampa: Today, the Mosaic Company (NYSE:MOS) commented on a ruling from the U.S. Court of International Trade (CIT) (OCP S.A. et al. v. United States, Consol. Ct. No. 21-219), which remanded the U.S. International Trade Commission’s (ITC) injury finding back to the ITC for reconsideration.
CIT appeals are common in trade remedy cases, and in most cases remanded to the ITC for reconsideration, the original finding of injury is affirmed. In OCP S.A. et al. v. United States, the CIT remanded on one specific factual issue out of many that the ITC relied upon. Neither the ITC nor the U.S. Department of Commerce have thus far changed anything from their earlier determinations, and as a result, countervailing duties on phosphate fertilizers remain in effect with no changes to the rates applied at the border.
“The basic facts that led to countervailing duties on imports from Morocco and Russia remain unchanged,” said Joc O’Rourke, Chief Executive Officer. “We will continue to participate actively before the agencies and the courts to defend the original findings.”
