U.S. revokes oldest antidumping duty

27/08/2010 12:00 - 416 Views

TOKYO, Aug. 25, 2010 (Kyodo News International) -- The United States has revoked a 36-year-old antidumping duty on a synthetic rubber from Japan, regarded as the oldest of such existing duties in the world, the Japanese trade ministry said Wednesday.

Polychloroprene rubber, used for automobile parts, is manufactured by such Japanese companies as Denki Kagaku Kogyo K.K. Exports of the product to the United States have been limited as a result of the duty.

The U.S. government recently examined the necessity of the duty as part of a review conducted every five years and decided to revoke it due to the absence of requests for its continuation from U.S. manufacturers such as the DuPont (NYSE:DD PRB) (NYSE:DD PRA) (NYSE:DD) group, according to the Economy, Trade and Industry Ministry.

As production of the rubber has decreased in the United States, local manufacturers have apparently lost interest in the duty that had remained in force since 1973, ministry officials said.

The United States still maintains antidumping duties on 19 products from Japan, six of which are more than 20 years. The oldest has been in force for 31 years.

The ministry said it will urge the U.S. government to remove them as soon as possible as it regards long-lasting duties as unfair.

Wednesday, August 25, 2010 10:03 AM

Source: newsystocks.com