Tags: steel | wheels | china | us | commerce | dumped

Commerce: Steel Wheels From China Dumped in US Market

map of china with yuan currency background
(Dollar Photo Club)

Wednesday, 24 October 2018 04:55 PM

The U.S. Commerce Department said on Wednesday it had made an initial determination that imports of certain steel wheels from China were being dumped in the U.S. market and it set preliminary antidumping duties on the products.

The department, which had previously found the imports were being unfairly subsidized, said they were being dumped at a margin of 231.7 percent and it instructed U.S. border officials to collect cash deposits at that rate.

U.S. antidumping moves represent another front in the trade conflict between Washington and Beijing. U.S. President Donald Trump may meet with Chinese President Xi Jinping at the G20 summit next month to discuss trade.

The department opened the investigation based on complaints by Accuride Corp of Evansville, Indiana, and Maxion Wheels Akron LLC, of Akron, Ohio. It said in a statement it was scheduled to issue its final determination in the case in early January.

If the Commerce Department makes a final determination affirming its decision, the International Trade Commission will make a final injury determination by about Feb. 21, the statement said.

The U.S. has estimated the value of U.S. imports of steel wheels from China in 2017 at $388 million. 

© 2021 Thomson/Reuters. All rights reserved.


Markets
The U.S. Commerce Department said on Wednesday it had made an initial determination that imports of certain steel wheels from China were being dumped in the U.S. market and it set preliminary antidumping duties on the products.
steel, wheels, china, us, commerce, dumped
195
2018-55-24
Wednesday, 24 October 2018 04:55 PM
Newsmax Media, Inc.
 
Newsmax TV Live
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved