Business NewsNews

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]

Business NewsNews

The government may impose anti dumping duty on import of a chemical, used in industries like plastics, from four countries, including China, for three years to guard domestic players from cheap shipments. While Directorate General of Anti-dumping and Allied Duties recommends the duty, the finance ministry imposes the same. Imposition of the duty on imports of the chemical ‘Methyl Ethyl Ketone’ from China, Japan, South Africa and Taiwan was recommended by the commerce ministry’s investigation arm Directorate General of Anti-dumping and Allied Duties (DGAD). Imports of the chemical from these four countries increased to 44,470 tonne during July 2015 and September 2016 from 26,969 tonne in 2013–14.

The probe took into account data for July 2015 to September 2016 period. Countries carry out anti-dumping probe to determine whether their domestic industries have been hurt because of a surge in below-cost imports. As a counter measure, they impose duties under the multilateral regime of WTO. The duty is also aimed at ensuring fair trading practices and creating a level-playing field for domestic producers with regard to foreign producers and exporters. India has already imposed anti-dumping duty on several products to check below-cost imports from countries including China.

[Source: The Hindu Business Line]

Legislation UpdatesNotifications

Definitive anti-dumping duty imposed on imports of measuring tapes originating in, or exported from Chinese Taipei, Malaysia, Thailand and Vietnam for a period of five years.

[Ref: Notification No 16/2016- Cus (ADD) dated 13 May, 2016]

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