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Yesterday, U.S. Commerce Department announced that it has finished its preliminary investigations on imports of rubber bands from China and found that Chinese exporters received countervailing subsidies to the tune of $125.77 million. The investigation was initiated based on a petition filed by Alliance Rubber Company of Arizona.
The department has now asked the U.S. Customs and Border Protection Agency (CBP) to collect cash deposits from importers based on the above-mentioned rate. According to the department’s calculations, U.S. imported $4.9 million worth of rubber bands from China in 2017.
The Commerce Department has significantly stepped up AD & CVD (Countervailing duties) investigations and actions under the Trump administration. The number of investigations initiated and settled in the first 529 days is 30 percent more than the previous administration.
