Last night, the U.S. Commerce Department Announced final Anti-dumping duties (AD) on imports of tool chests and cabinets from China and Vietnam, accusing the countries of selling it below the fair value, amid an ongoing trade dispute between the United States and rest of the world, especially China.
In a statement released on the commerce department website, U.S. Commerce Secretary Wilbur Ross has confirmed the final determination in the anti-dumping duty (AD) investigation, finding that exporters of tool chests and cabinets from China sold the product in the United States at 97.11 percent to 244.29 percent at less than the fair value. And exporters from Vietnam have sold the product in the United States at 327.17 percent at less than fair value. The U.S. commerce department will instruct U.S. Customs and Border Protection Agency to collect cash deposits from importers of tool chests and cabinet from China. In 2016, imports of tool chests and cabinets from China and Vietnam were valued at an estimated $230 million and $77 million respectively.
Mr. Ross said, “The United States is committed to free, fair, and reciprocal trade with these countries, and this case was decided strictly on a full and fair assessment of the facts…….The Department of Commerce will defend U.S. companies being hurt by foreign manufacturers that refuse to play by the rules. There are 161 antidumping or countervailing duty orders in place against China, and it is time for them to realize that their actions have consequences.”
Since becoming President, Trump has instructed his team to take up the issue of trade balance and dumping of foreign products seriously. According to Commerce Department, in the first quarter of 2018, the Department of Commerce has already initiated 22 new AD and CVD initiations, a 150 percent increase when compared with the first quarter of the prior year.
CVD and AD laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair subsidization of imports into the United States.
