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Yesterday, the U.S. Commerce Department slapped anti-dumping duty (AD) on imports of tapered roller bearings from South Korea as it announced final results of an AD investigation that was initiated by the petition filed by The Timken Company of Ohio.
According to the U.S. Commerce Department, the investigations have found that exporters from Korea have sold tapered roller bearings in the United States at 8.21– 52.44 percent less than fair value. The department has asked the U.S. customs and border protection agency (CBP) to collect cash deposits from importers based on these rates. According to the department’s calculation the import of the above product amount to $67.4 million 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 is 59 percent higher than the previous administration.
