U.S. Slaps Anti-Dumping Duty On Indian, Chinese Steel Flanges
The duty comes after a U.S, probe found that both countries provided subsidies to their exporters.
The U.S. has decided to slap anti-dumping duty on stainless steel flanges imported from India and China, after it found in its preliminary probe that both countries provided subsidies to their exporters.
President Donald Trump had earlier this month imposed steep tariffs on imported steel and aluminium, which he said were necessary to boost the U.S. industry suffering from “unfair” business practices, a move that has sparked fears of a global trade war.
The Department of Commerce has found that exporters from China and India have sold stainless steel flanges in the U.S. at 257.11 percent and 18.10 to 145.25 percent less than fair value, respectively, according to an official statement issued yesterday.
Following this decision, the commerce department will instruct the U.S. Customs and Border Protection to collect cash deposits from importers of the stainless steel flanges from China and India, based on these preliminary rates, it said.
In 2016, imports of stainless steel flanges from China and India were valued at an estimated $16.3 million and $32.1 million, respectively.
The preliminary investigation was launched by the Department on the petition by the Coalition of American Flange Producers, including Core Pipe Products Inc. (Carol Stream, IL) and Maass Flange Corporation (Houston).
The United States will not sit back and watch as our domestic businesses are destroyed by unfair foreign government subsidies and dumping.Wilbur Ross, U.S. Commerce Secretary
“This Administration is taking fair and transparent action on behalf of American industry to defend businesses and workers while we continue reviewing the facts related to this decision,” he said.
The enforcement of the U.S. trade law is a prime focus of the Trump administration.
From Jan. 20, 2017, through March 20, 2018, the commerce department has initiated 102 anti-dumping and countervailing duty investigations – a 96 percent increase from Jan. 20, 2016 through March 20, 2017, the statement said.
The anti-dumping law provides the U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the U.S.
The commerce department currently maintains 428 anti-dumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade. It is scheduled to announce the final determinations in these investigations on or about June 5, 2018, the statement said.