The United States has imposed “necessary” heavy tariffs on imported steel and aluminium to boost the US industry suffering from “unfair” business practices. The US has decided to slap anti-dumping duty on stainless steel flanges imported from India and China after it found in its preliminary probe that both the countries provided subsidies to the exporters. The Department of Commerce has found that exporters from China and India have sold stainless steel flanges in the US at 257.11 percent and 18.10 to 145.25 percent less than fair value, respectively, according to an official statement. Following this decision, the commerce department will instruct the US Customs and Border Protection (USCBP) to collect cash deposits from importers of the stainless steel flanges from China and India, based on the preliminary rates.
In 2016, imports of stainless steel flanges from China and India were valued at an estimated USD16.3 million and USD32.1 million, respectively. The preliminary investigation was launched by the Department on the petition by the Coalition of American Flange Producers, including Core Pipe Products Inc. (Carol Stream, IL) and Maass Flange Corporation (Houston). From January 20, 2017, through March 20, 2018, the commerce department has initiated 102 anti-dumping and countervailing duty investigations a 96 % increase from January 20, 2016 through March 20, 2017. The anti-dumping law provides the US businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the US. Commerce currently maintains 428 anti-dumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade and final determinations are scheduled to be announced in these investigations on or about June 5, 2018.
[Source: The Business Standard]