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US Commerce Imposes Final Duties On Ribbons From China, Taiwan
21/07/2010 12:00
WASHINGTON -(Dow Jones)- The U.S. Commerce Department announced a final decision Tuesday to impose antidumping duties against imports of woven ribbons from China and Taiwan.
Claiming that the Chinese government has been subsidizing production of the ribbons, Commerce also set countervailing duties ranging from 1.56% to 117.95%.
In response to dumping, in which a foreign company sells products in the U.S. at less than fair value, Commerce imposed duties of up to 247.65% on ribbons from China and up to 4.37% on Taiwanese imports.
U.S. manufacturer Berwick Offray and its Lion Ribbon Co. subsidiary had requested relief in the case. Imports of Chinese-produced ribbons totaled $13 million last year, while those made in Taiwan were valued at $34 million.
The duties will go into effect if the U.S. International Trade Commission finds that domestic manufacturers are materially threatened by the imports. A decision is expected from the independent panel around Aug. 25.
Claiming that the Chinese government has been subsidizing production of the ribbons, Commerce also set countervailing duties ranging from 1.56% to 117.95%.
In response to dumping, in which a foreign company sells products in the U.S. at less than fair value, Commerce imposed duties of up to 247.65% on ribbons from China and up to 4.37% on Taiwanese imports.
U.S. manufacturer Berwick Offray and its Lion Ribbon Co. subsidiary had requested relief in the case. Imports of Chinese-produced ribbons totaled $13 million last year, while those made in Taiwan were valued at $34 million.
The duties will go into effect if the U.S. International Trade Commission finds that domestic manufacturers are materially threatened by the imports. A decision is expected from the independent panel around Aug. 25.
Source: www.nasdaq.com
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