Global Geopolitical Series: U.S. announces final duties on PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan

Yesterday, the U.S. Commerce Department concluded its final investigations into imports of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan and it has found that exporters are dumping the product in the United States at a lower rate below the fair value at the following rates,

• Brazil: 29.68 to 275.89 percent
• Indonesia: 30.61 to 53.50 percent
• South Korea: 8.23 to 101.41 percent
• Pakistan: 43.81 to 59.92 percent
• Taiwan: 5.16 to 45 percent

As a result of the findings, the commerce department has asked the U.S. customs and border patrol (CBP) agency to collect cash deposits from importers of the item based on these preliminary rates.

The investigation was initiated based on petitions filed by a group of companies; DAK Americas, LLC (Charlotte, NC), Indorama Ventures USA, Inc. (Decatur, AL), M&G Polymers USA, LLC (Houston, TX), and Nan Ya Plastics Corporation, America (Lake City, SC).  Indorama Ventures USA.

According to the department’s calculations, the imports of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan were valued at an estimated $152.5 million, $44.9 million, $127.3 million, $82.6 million, and $154 million respectively in 2017.

Under President Trump, the U.S. Commerce Department has significantly stepped up its investigations into foreign malpractices in trade and the number of investigations initiated is 221 percent more than the previous administration.