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Last night, the U.S. Commerce Department announced the initiation of an investigation into imports of Rubber Bands from China, Sri Lanka, and Thailand. The investigations were initiated based on a petition filed by Alliance Rubber Company (AR).
According to the preliminary estimate based on the petition, China is dumping the above-mentioned products at a price which is at least 27.27 percent lower than their fair value. That number is 56.54 percent to 133.13 percent for Sri Lanka, and 28.92 to 78.36 percent for Thailand. It also suggests the existence of 16 subsidy programs alleged for China, 20 subsidy programs alleged for Sri Lanka, and 10 subsidy programs alleged for Thailand. In the CVD investigations, the Commerce Department will determine whether Chinese, Sri Lankan, and Thai producers of rubber bands are receiving government subsidies.
According to Commerce Department’s calculations, the imports of rubber bands from China, Sri Lanka, and Thailand were valued at an estimated $4.9 million, $2 million, and $12.1 million, respectively in 2017.
Under the leadership of Secretary Wilbur Ross, the U.S. Commerce Department has followed through President Trump’s promise to cut down malpractices that tend to rob the United States of manufacturing jobs. From January 20, 2017, through February 21, 2018, the Commerce Department has initiated 102 antidumping and countervailing duty investigations, a 96 percent increase from the previous year.
A statement on Commerce department quoted Secretary Wilbur Ross saying, “The Department will act swiftly while ensuring a full and fair assessment of the facts…….The Trump administration is committed to the enforcement of America’s trade laws that ensure U.S. businesses and workers have a fair chance to compete.”
