US imposes anti-dumping duties on Chinese hardwood plywood
By PTI | Published: 14th November 2017 03:55 PM |
WASHINGTON: The United States has said it would impose anti-dumping duties on imports of hardwood plywood products from China, which last year totalled USD 1.12 billion.
It was the latest move by the Commerce Department yesterday against Chinese goods it deems to have benefited from state subsidies, including fresh duties against aluminium foil unveiled last month.
President Donald Trump is returning from an 11-day tour of Asia, where he has said US interests have been ill-served by global trade, while his Chinese counterpart Xi Jinping defended the "irreversible" tide of globalisation.
Annually, the US runs a steep trade deficit in goods with China of about USD 350 billion.
The Commerce Department "determined that exporters from China sold hardwood plywood products in the United States at 183.36 per cent less than fair value," a statement said.
It also determined China was providing subsidies to producers ranging from 22.3 per cent to 195 per cent, and said it would impose tariffs at corresponding rates.
"From January 20, 2017, through November 13, 2017, Commerce initiated 77 anti-dumping and countervailing duty investigations -- a 61 per cent increase from 48 in the previous year," the statement said.