NEW DELHI: The US has initiated new antidumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find if producers in India are receiving unfair subsidies.
“There are 45 subsidy programmes alleged for India, including allegations that the Government of India provides export subsidies, as well as subsidized financing, land, steel, and other raw materials,” the US Department of Commerce said on Thursday.
The probe comes amid commerce and industry minister Piyush Goyal’s ongoing visit to the US as the two sides try to iron out bilateral trace issues to arrive at a trade package.
In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and $67.6 million, respectively.
These investigations were initiated based on petitions filed by Bonney Forge Corporation and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union.
The alleged dumping margins range from 45.31 -198.38% for Korea and 52.48-293.4% for India.
If the department makes affirmative findings in these investigations and the US International Trade Commission determines that dumped and unfairly subsidized US imports of forged steel fittings are causing injury to the American industry, it will impose duties on those imports.
The commission will conduct its own investigations into whether the American industry and its workforce are being harmed by such imports, and make its preliminary determinations on or before December 9.
If the department determines that dumping or unfair subsidization is occurring, then it will instruct US Customs and Border Protection to start collecting cash deposits from all US companies importing forged steel fittings from India and Korea.
If the department determines that dumping or unfair subsidization is occurring, then it will instruct US Customs and Border Protection to start collecting cash deposits from all US companies importing forged steel fittings from India and Korea.
Final determinations by the department in these cases are scheduled for March 31, 2020, for the countervailing investigation, and June 15, 2020, for the anti dumping probe.
Source: economictimes.indiatimes.com