US Trade Panel Approves Duties On China Steel Grating Imports
29/06/2010 12:00
WASHINGTON (Dow Jones)--The U.S. International Trade Commission voted Thursday in favor of imposing antidumping and countervailing duties against some steel grating imports from China.
The finding by the independent trade panel that U.S. manufacturers of the grating--typically used for walkways and flooring--are materially hurt by imports from China clears the way for the duties to go into effect.
The Commerce Department earlier this month made a final decision to levy duties on the imports, whose value fell to $15.3 million last year from $90.7 million in 2008.
Accusing the Chinese government of subsidizing production, Commerce set countervailing duties of 62.46% on the imports. Determining that the imports are being sold below fair value in the U.S., the department also set antidumping duties ranging from 136.76% to 145.18%.
China's Ministry of Commerce called the decision to impose the duties unacceptable when announced earlier in the month, saying the investigation and methodology used to calculate the duties weren't fair.
The U.S. has been investigating nearly two dozen duty cases against China, amid growing trade tensions between the two countries.
Alabama Metal Industries Corp. and Fisher & Ludlow had filed for relief in the case.
-By Tom Barkley, Dow Jones Newswires; 202-862-9275; tom.barkley@dowjones.com
JUNE 24, 2010, 12:45 P.M. ET
Source: online.wsj.com
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