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Global Geo-political Series: U.S. commerce department imposes CVD on forged steel fittings from Italy, China, and Taiwan

Under the Trump administration, the U.S. commerce department, under the guidance of Secretary Wilbur Ross continues to take a tough stance on countries that have used unfair means to promote exports. Cracking down on U.S. deficit has been one of the core principles of this administration.

Last night, U.S. commerce department announced imposing preliminary countervailing duties (CVD) on imports of forged steel fittings from China, Italy, and Taiwan. The estimated dumping margins alleged by the petitioners are 142.72 percent for China, 18.66 to 80.20 percent for Italy, and 116.17 percent for Taiwan. The commerce department has asked U.S. customs and border protection agency to collect cash deposits from importers based on these rates. In 2016, imports of forged steel fittings from China, Italy, and Taiwan were valued at an estimated $78.4 million, $21.2 million, and $15.1 million, respectively.

Commerce Secretary, Mr. Ross said, “The Department of Commerce intends to act swiftly to halt any unfair trade practices, while also assuring a full and fair assessment of the facts…..The U.S. market is the most open in the world, but we must take action to ensure U.S. businesses and workers are treated fairly if our rules are being broken.”

Under Trump administration, Antidumping (AD) and CVD investigations have increased by 60 percent compared to the same period in 2016. 77 investigations have been initiated by the administration.

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2017-11-23 16:31:32
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2017-11-23 16:30:58
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November 23 19:00 UTC Released

AREconomic Activity YY*

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955 %

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-800 %

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1755 %

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ARRich Fed Mfg Shipments*

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3.8 %

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4.4 %

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-0.6000 %

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KRConsumer Sentiment Ind*

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109 Bln USD

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-105 Bln JPY

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JPForeign Invest JP Stock

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182.4 Bln JPY

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JPNikkei Mfg PMI Flash

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52.8 bln $

November 24 09:00 UTC 770770m

DEIfo Business Climate*

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116.6 %

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116.7 %

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DEIfo Current Conditions*

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125 %

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124.8 %

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DEIfo Expectations*

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108.9 %

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109.1 %

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ITIndustrial Orders MM SA

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8.7 %

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