Global geopolitical series: U.S. imposes ad on imports of low melt polyester Fiber from South Korea and Taiwan
Source: FxWire Pro - Commentary / 20 Jun 2018 04:49:12 America/New_York
Yesterday, U.S. Commerce Department slapped anti-dumping duty (AD) on imports low melt polyester staple fiber from South Korea and Taiwan as it announced final results of an AD investigation that was initiated by the petition filed by Nan Ya Plastics Corporation, America from South Carolina.
According to the U.S. Commerce Department, the investigations have found that exporters from Korea have sold low melt polyester fiber in the United States at 0.00 – 16.27 percent less than fair value and exporters from Taiwan sold 49.93 percent less than the fair value. The department has asked the U.S. customs and border protection agency (CBP) to collect cash deposits from importers based on these rates. According to the department’s calculation, the imports of the above product amounted to $75.5 million in 2017 from South Korea and $26.9 million from Taiwan.
The Commerce Department has significantly stepped up AD & CVD (Countervailing duties) investigations and actions under the Trump administration. The number of investigations initiated and settled is 59 percent more than the previous administration.© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.