US launch trade probe against Chinese steel products….reports Asian Lite News
The US Commerce Department launched anti-dumping duty (AD) and countervailing duty (CVD) investigations into imports of stainless steel sheets and strips from China, the media reported. The investigations are in response to a request from AK Steel Corporation and three other US steel companies, the department said in a statement on Friday.
These companies alleged that steel products from China were sold to the US market at prices below fair value with dumping margins ranging from 51.07 percent to 76.64 percent, Xinhua news agency reported.
They also claimed that Chinese exporters and producers of such products received improper government subsidies.
The US International Trade Commission (ITC), the country’s trade authority, is scheduled to make its preliminary inquiry determinations around March 28.
The probe will continue if the ITC determines that there is a reasonable indication that imports of such products from China materially injure or threaten the domestic industry of the US. The Commerce Department will then make its preliminary determinations of CVD and AD in May and July respectively.
Imports of these products from China were estimated at about $302 million in 2015.