U.S. ITC allows duties on imported PET resin findings: statement – USA ITC duties PET resin - Arhive
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U.S. ITC allows duties on imported PET resin findings: statement
WASHINGTON (Reuters) – The U.S. International Trade Commission on Tuesday said its preliminary findings pointed to harm to U.S. producers from polyethylene terephthalate (PET) resin imported from five countries.
In a statement, the ITC said it had found resin from Brazil, Indonesia, South Korea, Pakistan and Taiwan had been sold “in the United States at less than fair value” and that the U.S. Commerce Department would issue its final determination on Sept. 17.
Reporting by Susan Heavey; Editing by Chizu Nomiyama
Global Geopolitical Series: U.S. Commerce Department announces preliminary AD on imports of Polyethylene Terephthalate Resin from Brazil, Indonesia, Korea, Pakistan and Taiwan
Below are the preliminary dumping rates,
Brazil – 24.09 percent to 226.91 percent;
Indonesia – 13.16 percent;
Korea – 8.81 percent to 101.41 percent;
Pakistan – 7.75 percent;
Taiwan – 9.02 percent to 11.89 percent.
The Commerce Department has asked the U.S. Customs and Border Protection Agency (CBP) to collect cash deposits from importers based on these rates.
According to Commerce department’s calculations, in 2016, imports of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan were valued at an estimated $51.7 million, $35.7 million, $24 million, $34.1 million, and $109.8 million, respectively.
Under the leadership of Secretary Wilbur Ross, the U.S. Commerce Department has followed through President Trump’s promise to cut down malpractices that tend to rob the United States of manufacturing jobs. The numbers of AD and CVD investigations have jumped by 75 percent from the 465 days of the last administration.
A statement on Commerce department quoted Secretary Wilbur Ross saying, “The Department will use every tool at our disposal to defend U.S. industry against unfair trade practices……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.”
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