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Earlier this week, the U.S. Commerce Department concluded its final investigations into imports of forged steel fittings from China and it has found that exporters from Taiwan are selling the above-mentioned product I the United States 116.17 percent less than fair value. 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 this item.
The investigation was initiated based on a petition filed by a group of companies; Bonney Forge Corporation (Mount Union, PA), and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial, and Service Workers International Union (Pittsburgh, PA).
According to the department’s calculations, the imports of forged steel fittings from Taiwan were valued at $18.9 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 30 percent more than the previous administration.
