Taiwan PET resin firms listed by U.S. for dumping – Department of Commerce (DOC) said Tuesday that it has determined in a preliminary ruling that polyethylene terephthalate (PET) resin suppliers from Taiwan and four other countries sold their products at unfairly low prices in the U.S. market – Taiwan PET resin firms USA dumping - Arhive

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Taiwan PET resin firms listed by U.S. for dumping

Taiwan PET resin firms USA dumping Image taken from Pixabay

Washington, May 1 (CNA) The U.S. Department of Commerce (DOC) said Tuesday that it has determined in a preliminary ruling that polyethylene terephthalate (PET) resin suppliers from Taiwan and four other countries sold their products at unfairly low prices in the U.S. market.

According to the preliminary decision, the DOC said PET resin exporters from Taiwan, Brazil, Indonesia, Pakistan and South Korea violated U.S. anti-dumping regulation and face the imposition of preliminary tariffs ranging from 7.75-226.91 percent.

“The Department will use every tool at our disposal to defend U.S. industry against unfair trade practices,” U.S. Commerce Secretary Wilbur Ross said in a statement.

“Today’s decision allows U.S. producers of PET resin to receive relief from the market-distorting effects of potential dumping while the open and transparent process of investigating this matter continues,” Ross added.

For Taiwan, preliminary anti-dumping tariffs ranging from 9.02 percent to 11.89 percent have been imposed, according to the DOC.

The DOC said Far Eastern New Century Corp., Far Eastern Textile Ltd., and Worldwide Polychem (HK), Ltd. face an 11.89 percent anti-dumping rate, while the tariff imposed on Shinkong Synthetic Fibers Corp. is 9.02 percent. The four are Taiwan-based mandatory respondents in the case, while Far Eastern Textile is the largest PET resin maker in Taiwan.

All other PET resin suppliers from Taiwan have been slapped with a tariff rate of 10.99 percent, the DOC said.

Meanwhile, Brazilian companies face the heaviest financial burden among the five countries of up to 226.91 percent, while tariffs imposed on South Korean firms range from 8.81-101.41 percent, tariffs on Indonesian suppliers are 13.16 percent and tariffs on Pakistani exporters stood at 7.75 percent, the DOC said.

As a result of the preliminary determination, the DOC said it will instruct U.S. Customs and Border Protection to require cash deposits based on these preliminary rates from the foreign suppliers.

However, the tariffs are not final and the DOC is scheduled to announce a final decision on or about Sept. 17.

In response to the DOC’s announcement, the Taiwan Man-Made Fiber Industries Association said in Taipei on Wednesday that it will provide necessary assistance to its members responding to further questions raised by the U.S. authorities in the upcoming probe.

The association added that one of the measures will be to help its members apply for financial aid from the Bureau of Foreign Trade to hire lawyers for the investigation.

According to data compiled by the DOC, Taiwan sold PET resin on the U.S. market valued at US$109.83 million in 2016, up from US$66.96 million in 2015, making it the largest foreign supplier of PET resin to the U.S.

(By Rita Cheng, Wei Shu and Frances Huang)
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