US Commerce Department backs preliminary tariffs on Russian palladium imports

The United States US Department of Commerce issued a preliminary finding on February 13, 2026, that palladium imports from Russia RU are being dumped in the domestic market, citing a preliminary weighted-average dumping margin of 132.83%. This development follows a petition filed by Sibanye Stillwater Limited SBSW and initiates a formal investigative process that could lead to the imposition of anti-dumping duties. The finding is considered material because a final determination and any resulting duties will affect the competitive position of U.S. palladium suppliers and ongoing global trade flows.

This preliminary determination is not final and will be followed by further investigation by both the U.S. Department of Commerce and the U.S. International Trade Commission. A final decision is currently expected in mid-2026. Industry stakeholders, including Richard Stewart, are monitoring the procedural timeline as the agencies evaluate the long-term implications for the market. Until the final determination is reached, the status of potential duties remains uncertain, though the preliminary margin provides a significant baseline for the remainder of the investigation.