Commerce to Investigate PC Steel Wire Strand from P.R. China
06/18/2009 - The U.S. Department of Commerce will initiate antidumping and countervailing duty investigations on imports of prestressed concrete steel wire strand from P.R. China.
The U.S. Department of Commerce announced it will initiate antidumping and countervailing duty investigations on imports of prestressed concrete steel wire strand from P.R. China.
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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.
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Imports of prestressed concrete steel wire strand from P.R. China increased 7.83% by volume from 2007 to 2008. Imports from P.R. China IN 2008 were valued at an estimated $178 million.
The U.S. International Trade Commission (ITC) is scheduled to make its preliminary injury determination on or about July 13. 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 on August 20, and its preliminary antidumping determination on November 3.
Petitioners for these investigations, who filed their trade case in May, are American Spring Wire Corp., Ohio; Insteel Wire Products Co., N.C.; and Sumiden Wire Products Corp., Tenn.
