The Korea International Trade Association (KITA) said Sunday....the U.S. Commerce Department had tentatively decided to consider slapping retroactive anti-dumping duties on Korean cold-rolled steel sheets.

KITA said that the decision, reached last week, accepts the notion that "critical circumstances" existed and permits the government to levy punitive or countervailing duties up to 90-days before the official anti-dumping decision was made.

The trade association said that the latest move, if implemented, will have an impact on steel imports from Korea, Australia, India, Russia and China.

On the other hand, U.S. law gives the International Trade Commission (ITC) the final right to determine if "critical circumstances" existed. The ITC has generally not been favorably disposed towards making such a ruling.