Commerce Department Will Impose New Duties On Chinese Carbon And Alloy Steel Products
As Politico’s “Morning Trade” reported last Thursday, the U.S. Commerce Department has found evidence of both dumping and subsidization of imports of certain carbon and alloy steel products from China. (Imports of these products totaled nearly $70 million in 2015.) The department said it would impose countervailing duties of more than 250 percent all Chinese producers of certain carbon and alloy steel cut-to-length plate and that it also would place anti-dumping margins of nearly 70 percent on Jiangyin Xingcheng Special Steel Works Co.
According to CNBC, “Commerce officials said they would call on the U.S. Customs and Border Patrol to collect cash deposits equal to the dumping rate that would be refunded if the U.S. International Trade Commission [ITC] later finds there has been no harm to U.S. producers.” The ITC will make its final injury determination in the case in early March.