U.S. trade action against China continues to mount.
Yesterday, the U.S. Commerce Department announced final results of the Anti-dumping Duty (AD) investigation on imports of Carton-Closing Staples from China. The investigation was initiated based on a petition filed by North American Steel & Wire, Inc./ISM Enterprises (ISM) (PA).
The department has found that exporters of Carton-Closing Staples from China sold carton-closing staples in the United States at 115.65 – 263.40 percent less than fair value. The Commerce Department has asked the United States’ Customs and Border Protection Agency (CBP) to collect cash deposits from importers based on these final rates.
According to the department’s calculations, imports of carton-closing staples from China were valued at an estimated $73.2 million, in 2016.
Since coming to power the Trump administration has initiated 102 antidumping and countervailing duty investigations, a whopping 96 percent increase from the previous period. The statement from the department quoted the Commerce Secretary Wilbur Ross as saying, “The dumping of goods by foreign governments is something the Trump Administration takes very seriously…….The Department of Commerce will continue to stand up for American workers and businesses in order to ensure that China and other countries do not take advantage of the most open market in the world.”
