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The United States is gradually tilting the level playing field towards balance as the Commerce Department continues to crack down on unfair trade policies pursued by other countries, especially by China.
Based on a petition filed by Kyocera Senco Industrial Tools, Inc. of Cincinnati, Ohio, the U.S. Commerce Department announced that it is opening countervailing (CVD) and Anti-Dumping Duty (AD) investigations into imports of Steel staples from China, Korea, and Taiwan.
The petitioner alleged that exporters from these countries are dumping the above-mentioned product at following margins,
- China – 119.37 to 122.55 percent
- Korea – 10.23 to 14.25 percent
- Taiwan – 47.60 percent
In addition to that, the petition alleges the existence of 27 subsidy programs to support exporters in case of China including five preferential loan and interest rate programs, two export credit programs, five income tax and other direct subsidy programs, four indirect tax programs, six grant programs, and five less than adequate remuneration programs.
If Commerce department makes affirmative findings in these investigations, and if the U.S. International Trade Commission (ITC) determines that dumped or unfairly subsidized U.S. imports of collated staples from China, Korea, and Taiwan are causing injury to the U.S. industries, the Commerce Department will impose duties on those imports in the amount of dumping and unfair subsidization found to exist.
In 2018, imports of Steel staples from China, Korea, and Taiwan were valued at an estimated $88.8 million, $6.9 million, and $5.1 million, respectively.
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 219 percent more than the previous administration.
