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Commerce Initiates AD, CVD Investigations of Steel Fasteners
10/15/2009 - The U.S. Department of Commerce announces that it will initiate antidumping and countervailing duty investigations on imports of certain standard steel fasteners from P.R. China (AD/CVD) and Taiwan (AD).
The U.S. Department of Commerce announced on October 14 that it would initiate antidumping and countervailing duty investigations on imports of certain standard steel fasteners from P.R. China (AD/CVD) and Taiwan (AD).
The products covered by these investigations include nuts, bolts, and cap screws that are mechanical devices designed to hold, join, couple, assemble, or maintain equilibrium of single or multiple components.
The products are currently classified in the Harmonized Tariff Schedule of the United States under the following categories: 7318.15.2030, 7318.15.2055, 7318.15.2065, 7318.15.8065, 7318.15.8085, 7318.16.0085.
From 2006 to 2008, imports of such steel fasteners from China increased by 4.48% and were valued at an estimated $291 million in 2008. Imports from Taiwan over the same time period decreased by 19.09% and were valued at an estimated $395 million in 2008.
The U.S. International Trade Commission (ITC) is scheduled to make its preliminary injury determination on or about November 9.
If the ITC determines that there is a reasonable indication of real or threatened material injury to the domestic industry due to these imports, the Commerce Department’s investigations will continue. In that case, Commerce will be scheduled to make its preliminary countervailing duty determination in December 2009, and its preliminary antidumping determinations in March 2010.
The petitioner for these investigations is Nucor Fastener, Ind.
Dumping occurs when a foreign company sells a product in the United States at less than normal value. Subsidies are financial assistance from foreign governments that benefit the production, manufacture, or exportation of goods.
