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U.S. sets preliminary subsidy rates on Chinese steel products

Xinhua, July 13, 2016 Adjust font size:

The U.S. Commerce Department on Tuesday announced its preliminary affirmative determination in a countervailing duty (CVD) investigation against imports of stainless steel sheets and strips from China, signaling that it may pose punitive duties on the products.

The department said that producers and exporters of such products from China had received countervailing subsidies from 57.3 percent to 193.12 percent.

As a result of the preliminary affirmative determinations, the Commerce Department will instruct U.S. Customs and Border Protection to require importers of stainless steel sheets and strips from China to deposit estimated countervailing duties at the time of importation.

The Commerce launched antidumping duty and CVD investigations against imports of such products from China in March 2016, in response to a request from AK Steel Corporation and three other U.S. steel companies, the department said in a statement.

The department is scheduled to make its both final determinations in November this year, unless the statutory deadline is extended.

Punitive duties would be imposed after both the Commerce Department and the U.S. International Trade Commission (USITC) make affirmative final rulings. The USITC is scheduled to make its final determination in January 2017.

Imports of these products from China were estimated at about 302 million U.S. dollars in 2015, according to U.S. official data.

The Chinese Ministry of Commerce has kept urging Washington to abide by its commitment against protectionism and help maintain a free, open and just international trade environment. Endit