(Washington, DC – Insurance News 360) – On Dec. 21, 2018, the U.S. Department of Commerce announced the final determinations in investigations into the antidumping duty and countervailing duty (CVD) of imports of plastic decorative ribbon from China. These investigations revealed that exporters sold plastic decorative ribbon at less than fair value in the United States at rates ranging from 54.21 to 370.04 percent. Exporters also received countervailable subsidies at rates ranging from 14.27 to 94.67 percent.
After publication of the final affirmative antidumping determination, the Department of Commerce is to direct U.S. Customs and Border Protection to take antidumping cash deposits equal to the applicable final weighted-average dumping margins. Regarding the CVD determination, if the International Trade Commission makes an affirmative injury determination, the U.S. Department of Commerce will also tell U.S. Customs and Border Protection to collect CVD cash deposits that equal subsidy rates.
In 2017, imports of certain plastic decorative ribbon from China were valued at an estimated $22.5 million.
The ITC is set to make final determinations on Feb. 4. If there are affirmative injury determinations, Commerce will issue orders to Customs and Border Patrol. If the determinations are negative, the investigations will be dropped.
As a primary focus of the Trump Administration, Commerce has initiated 137 new antidumping and countervailing duty investigations since President Trump took office. This is an increase of more than 300 percent over the same time frame in the previous administration.
Click HERE for a fact sheet on these decisions.
Source: U.S. Department of Commerce.