Global Geo-political Series: U.S. Commerce department announces preliminary AD and CVD on tool chests and cabinets from China and Vietnam

Just days after U.S. President Trump concluded his trip to China and Vietnam, where he received a lavish welcome, the U.S. commerce department announced preliminary AD (Anti-Dumping Duty) on tools chests and cabinets from China and Vietnam.

According to U.S. commerce department, exporters from China have sold tool chests and cabinets in the United States at 90.40 percent to 168.93 percent less than fair value, whereas exporters from Vietnam have sold tool chests and cabinets in the United States at 230.31 percent less than fair value. The ruling came in response to a petition by Waterloo manufactures tool chests at its production facility in Sedalia, Missouri. The commerce department has directed the United States’ customs and border protection agency to collect cash deposits from importers based on these rates.

The U.S. Commerce Secretary Wilbur Ross was quoted saying, “The United States is committed to free, fair and reciprocal trade with China, but this is not our idea of a properly functioning trading relationship…..We will continue to verify the accuracy of this decision while doing everything in our power to stand up for American companies and their workers.”

In 2016, imports of tool chests and cabinets from China and Vietnam were valued at an estimated $230 million and $77 million, respectively.