Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Global Geopolitical Series: U.S. Commerce department announces preliminary CVD on low melt polyester staple fiber from South Korea and Taiwan

After the Trump administration announced sharp tariffs on imports of washing machines and solar panels, South Korea not only protested the decision and decided to take up the issue to the World Trade Organization (WTO). However, that is not preventing the Trump administration to counter alleged trade malpractices against the Koreans.  

Earlier this week, the U.S. commerce department announced preliminary anti-dumping duties on imports of low melt polyester staple fiber from Taiwan, and Republic of Korea (South Korea). The department determined that exporters from Korea and Taiwan have sold the above-mentioned product in the United States at 0.00 to 16.48 percent and 52.00 percent less than fair value, respectively. The Commerce Department will announce the final determination on 8th June of this year.

As a result of the decision, the department has asked the U.S. customs and border protection agency (CBP) to collect cash deposits from importers. The decision was made in response to the petition filed by Nan Ya Plastics Corporation of South Carolina. According to the calculation, imports of low melt polyester staple fiber from Korea and Taiwan were valued at an estimated $76.6 million and $26.8 million, respectively in 2016.

Under the leadership of Secretary Wilbur Ross, the U.S. Commerce Department has followed through President Trump’s promise to cut down malpractices that tend to rob the United States of manufacturing jobs. In the first year, the Trump administration has initiated 84 AD and CVD investigation, 58 percent increase compared to a year before.

A statement on Commerce department quoted Secretary Wilbur Ross saying, “Today’s decision allows U.S. producers of low melt polyester staple fiber to receive relief from the market-distorting effects of foreign producers dumping their goods into the domestic market……Though politics plays no role in antidumping investigations, President Trump made it clear that we will vigorously enforce our trade laws and provide U.S. industry relief from unfair trade practices.”

 

 

 

 

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

August 17 14:30 UTC Released

USECRI Weekly Annualized

Actual

0.3 %

Forecast

Previous

0.6 %

August 17 14:30 UTC Released

USECRI Weekly Index

Actual

147.4 %

Forecast

Previous

147.8 %

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 300624300624m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 300624300624m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 288804288804m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.