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Global geopolitical Series: U.S. trade commission imposes additional duties on Aluminum alloy from China
The United States’ International Trade Commission (ITC) has decided to impose additional duties in the form of Countervailing and anti-dumping duties on imports of Aluminum Alloy Sheet from China to counter China’s alleged malpractices in trade, where exporters from China have been receiving subsidies to produce the product and dump then in the United States at a much lower rate than the fair price.
After the announcement from ITC, the U.S. Commerce Secretary Wilbur Ross applauded the decision and vowed that his department will not sit idly by where products are illicitly forced upon the U.S. markets.
The Commerce Department determined that exporters from China have sold common alloy aluminum sheet in the United States ranging from 49.85 to 59.72 percent less than fair value, while also finding that China is providing countervailable subsidies to its producers of common alloy aluminum sheet at final rates ranging from 46.48 to 116.49 percent.
The department has asked the U.S. Customs and Border patrol Agency (CBP) to charge cash deposits importers based on these rates.
Meanwhile, after an agreement at the sidelines of the last month’s G20 meeting between President Trump and Xi Jinping, both sides are negotiating to reach a broad-based trade agreement within a timeline that expires by the end of March.