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US accuses Indian, Chinese PET resin exporters of dumping
13
Aug '15
The US Department of Commerce's International Trade Administration's findings of its countervailing duty (CVD) investigations into imports of a plastic resin from China and India have turned out to be affirmative.

The Commerce Department initiated a less-than-fair-value investigation following anti-dumping and countervailing duty petitions filed in March by three American companies - DAK Americas, LLC (NC), M&G Chemicals (WV), and Nan Ya Plastics Corporation, America (SC).

On August 10, 2015, the Department of Commerce announced its preliminary affirmative determinations in the countervailing duty (CVD) investigations of imports of certain polyethylene terephthalate (PET) resin from the China and India, and its preliminary negative determination in the CVD investigation of imports of PET resin from Oman.

The CVD law provides US businesses and workers with a transparent and internationally accepted mechanism to seek relief from the market distorting effects caused by injurious subsidization of imports into the US, establishing an opportunity to compete on a level playing field.

The department of Commerce tentatively determined that producers/exporters in China and India received countervailable subsidies ranging from 4.27 per cent to 18.88 per cent, and 5.50 per cent to 115.04 per cent, respectively (the 115.04 per cent rate is based upon adverse facts available). The sole respondent in Oman received a rate of 0.28 per cent, which is minimal.

In the India investigation, the probe determined that mandatory respondent Dhunseri Petrochem Ltd. received a subsidy rate of 5.50 per cent. The other mandatory respondent, JBF Industries Limited, failed to respond to the Department's questionnaire. As a result, JBF Industries Limited received a subsidy rate of 115.04 per cent based on facts available and adverse inferences following the Commerce Commerce's preliminary determination that the company had not cooperated in the investigation. All other producers/exporters in India have been assigned a preliminary subsidy rate of 5.50 per cent.

In the China investigation, Commerce preliminarily determined that mandatory respondents Jiangyin Xingyu New Material Co., Ltd. (and its cross-owned affiliates) and Dragon Special Resin (Xiamen) Co., Ltd. (and its cross-owned affiliates) received subsidy rates of 4.27 per cent and 18.88 per cent, respectively. All other producers/exporters in China have been assigned a preliminary subsidy rate of 11.58 per cent.

As a result of the preliminary affirmative determinations for China and India, The Department of Commerce will instruct USs. Customs and Border Protection (CBP) to require cash deposits based on these preliminary rates. As a result of the negative preliminary determination, no cash deposit will be required for imports of PET resin from Oman.

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Courtesy: India ITME

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