US dumping duty on Indian stainless steel
Washington: The US has decided to slap an anti-dumping duty on stainless steel flanges from India and China after it found in its preliminary probe that both the countries provided subsidies to the exporters.
President Donald Trump had earlier this month imposed heavy tariffs on imported steel and aluminium which he said were necessary to boost the US 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 US at 257.11 per cent and 18.10-145.25 per cent less than fair value, respectively, according to an official statement issued on Tuesday.
Following this decision, the commerce department will instruct 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 $16.3 million and $32.1 million, respectively.
The preliminary investigation was launched by the department on a 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 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.
The commerce department 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.