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In a continuation of the toughened stance against trade practices, as the U.S. struggles to get a fair deal with China, it is taking punitive actions by imposing duties on key goods. Yesterday, the Commerce Department concluded its preliminary investigations into imports of steel racks from China &India, and it has found that the exporters are receiving countervailing subsidies at rates ranging from 5.04 to 150.49 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 a group of companies; Bulldog Rack Company (Weirton, WV), Hannibal Industries, Inc. (Los Angeles, CA), Husky Rack and Wire (Denver, NC), Ridg-U-Rak, Inc. (North East, PA), SpaceRak (Marysville, MI), Speedrack Products Group, Ltd. (Sparta, MI), Steel King Industries, Inc. (Stevens Point, WI), Tri-Boro Shelving & Partition Corp. (Farmville, VA), and UNARCO Material Handling, Inc. (Springfield, TN)..
According to the department’s calculations, the imports of steel racks from China were valued at an estimated $200 million, 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 242 percent more than the previous administration.
