Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
U.S. commerce department decided to impose countervailing duties on imports of tool chests and cabinets from China accusing the country of subsidizing those products. In a statement released on the commerce department website, U.S. Commerce Secretary Wilbur Ross has confirmed the affirmative preliminary determination in the countervailing duty (CVD) investigation, finding that exporters of tool chests and cabinets from China received countervailable subsidies ranging from 17.32 percent to 32.07 percent. According to the statement, 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 were valued at an estimated $989.9 million.
Mr. Ross said, ““The subsidization of goods by foreign governments is something the Trump Administration takes very seriously…….The Department of Commerce will continue to stand up for American workers and business’s in order to ensure that China does not take advantage of the most open market in the world.”
Since becoming President, Trump has instructed his team to take up the issue of trade balance and dumping of foreign products seriously. From January 20, 2017, through September 11, 2017, Commerce has initiated 62 antidumping and countervailing duty investigations; a 41 percent increase over the previous year. CVD 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. The Commerce Department currently maintains 407 antidumping and CVD orders which provide relief to American companies and industries impacted by unfair trade. President Trump has also initiated an investigation into China’s IPO laws that lead to the theft of United States’ intellectual properties.
