The US department of commerce in response to a petition filed by three US based PSF producers earlier this month has launched the anti-dumping and countervailing duty probe against the polyester staple fibre (PSF).
The petition alleged that producers from these Asian countries are dumping fine denier PSF in the US market at sizeable margins. China's dumping margin is alleged to be 88.07-103.06 percent, while that of India is 21.31-29.70 percent.
They has initiated investigations against import for fine denier polyester staple fibre (PSF) from Asian nations like India, China, South Korea, Taiwan and Vietnam.
The petition also claimed that the Chinese fine denier PSF industry benefits from 20 different Chinese government subsidies, and that the Indian fine denier PSF industry benefits from 33 Indian government subsidies.
The allegations identify a number of significant national and regional programs, including preferential export financing, preferential income tax treatment, tax exemptions, rebates and credits on imports of inputs and capital goods used in the production of fine denier PSF and grants for fine denier PSF producers to assist in the development of export market and to protect against commercial risk.
The International Trade Commission (ITC) of US will make its inquiry determinations by July 17, as per a Chinese news agency.
The ministry of commerce of China has been urging the US to keep its commitment against protectionism and maintain an open international trade environment.
The probe will be continued if the trade authority is able to determine that PSF imports from the 5 Asian countries are threatening or injuring the domestic industry.
Foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to antidumping duties. Companies that receive unfair subsidies from their governments, such as grants, loans, equity infusions, tax breaks or production inputs, are subject to countervailing duties aimed at directly countering those subsidies.
From January 20, 2017, through June 21, 2017, Commerce has initiated 45 AD and CVD investigations. Commerce currently maintains 401 AD and CVD orders, which provide relief to American companies and industries impacted by unfair trade.
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