STOCK MARKET BSE NSE

US slaps anti-dumping duty on Chinese, Indian steel flanges 

The Trump Administration has decided to slap an anti-dumping duty on the stainless steel flanges imported from China and India.

Published: 21st March 2018 11:24 AM  |   Last Updated: 21st March 2018 11:24 AM   |  A+A-

An employee works among stainless steel sheets at a steel factory in Taiyuan, Shanxi province, China | Reuters

By PTI

WASHINGTON: The Trump Administration has decided to slap an anti-dumping duty on the stainless steel flanges imported from China and India after it found in its preliminary probe that both the countries had provided subsidies to the exporters.

In January, the US had slapped anti-dumping duty on finer denier polyester staple fibre from China and India after the Department of Commerce found that exporters from both the countries received subsidies of 41.73 to 47.55 per cent and 9.50 to 25.28 percent, respectively.

The Department of Commerce has found that exporters from China and India have sold stainless steel flanges in the US at 257.11 per cent and 18.10 to 145.25 per cent less than fair value, respectively, according to an official statement issued yesterday.

Following this decision, the commerce department has instructed the US Customs and Border Protection (USCBP) 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 USD16.3 million and USD32.1 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," US Commerce Secretary Wilbur Ross said.

"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 US trade law is a prime focus of the Trump administration.

From January 20, 2017, through March 20, 2018, the commerce department has initiated 102 anti-dumping and countervailing duty investigations a 96 per cent increase from January 20, 2016 through March 20, 2017, the statement said.

The anti-dumping law provides the US businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the US.

Commerce currently maintains 428 anti-dumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade, it said.

Commerce is scheduled to announce the final determinations in these investigations on or about June 5, 2018, it added.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp