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US announces CVD on fine denier PSF from China, India
03
Nov '17
The US department of commerce has announced affirmative preliminary determinations in the countervailing duty (CVD) investigations, finding that exporters of fine denier polyester staple fibre (PSF) from the People’s Republic of China (China) and India received countervailable subsidies of 41.73 to 47.64 per cent and 7.18 to 9.86 per cent, respectively.

The commerce department will instruct US customs and border protection to collect cash deposits from importers of fine denier polyester staple fabric from China and India based on these preliminary rates, secretary of commerce Wilbur Ross announced.

The investigation is being carried out in response to petition made by DAK Americas LLC (NC), Nan Ya Plastics Corporation, America (SC), and Auriga Polymers Inc. (NC).

Last year, the US imports of fine denier polyester staple fibre from China and India were valued at an estimated $79.4 million and $14.8 million, respectively.

“Unless the final determinations are aligned with the concurrent anti-dumping (AD) investigations, the department of commerce is currently scheduled to announce its final CVD determinations on January 16, 2018,” a statement said.

“If the commerce department makes affirmative final determinations of subsidisation and the US International Trade Commission (ITC) makes affirmative final injury determinations, the department will issue CVD orders. If the department makes negative final determinations of subsidisation or the ITC makes negative final determinations of injury, the investigations will be terminated, and no order will be issued,” it added.

Meanwhile, in a separate announcement Kelley Drye & Warren LLP has announced the preliminary CVD rates by company. For fine denier PSF imports from China, the preliminary CVD rate will range from 41.73 per cent to 47.64 per cent. The lowest rate of 41.73 per cent would be applicable for import from Jiangyin Hailun Chemical Fiber Co. Ltd, while import from Jiangying Huahong Chemical Fiber Co. Ltd. would attract the highest slab of 47.64 per cent. CVD on imports from all other Chinese producers and exporters would be 44.69 per cent, US based Synthetic Yarn and Fabric Association said.

Likewise, the CVD preliminary rate of Kelley Drye & Warren for fine denier PSF imports from India would be between 7.18 per cent and 9.86 per cent. While import from Bombay Dyeing & Mfg. Co. Ltd. would entail CVD of 7.18 per cent, CVD on import from Reliance Industries Limited would be 9.86 per cent. Import from all other Indian companies would attract 9.37 per cent CVD. (RKS)

Fibre2Fashion News Desk – India


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