US starts probe into steel flanges from China, India
Washington: The US Department of Commerce on Wednesday said it began an investigation into possible dumping and subsidization of stainless steel flanges from China and India.
Commerce secretary Wilbur Ross announced the trade action in a statement, saying: “The Department will act swiftly, while assuring a full and fair assessment of the facts, to ensure that everyone trades on a level playing field.”
In 2016 imports of stainless steel flanges from China and India were valued at an estimated $16.3 million and $32.1 million, respectively, the statement said.
The probe followed petitions by two privately held companies, Core Pipe Products Inc of Illinois and Maass Flange Corp of Texas.
They alleged dumping margins, or the discount to fair value, on products from China of 99.23% to 257.11% and from India of 78.49% to 145.25%. They also estimated that products from both countries were subsidized at undetermined rates, the statement said.
The International Trade Commission is due to make a preliminary decision about whether the imports injure US producers by 2 October, which would ensure the Commerce Department continues its investigation, the statement said.
It said that from 20 January through 6 September this year, the department had begun 62 anti dumping and countervailing duty investigations, up 41% from the previous year.
- Narendra Modi to inaugurate fourth container terminal of JNPT tomorrow
- Canadian PM Justin Trudeau begins week-long India visit
- PMO working on resolving PNB fraud, will try to extradite Nirav Modi: MoS finance
- Tibet’s most sacred Buddhist temple catches fire
- PM Modi should explain why PNB scam happened: Rahul Gandhi