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In a continuation of the toughened stance against China, the U.S. Commerce Department slapped additional duties on certain Chinese goods. Yesterday, the Commerce Department concluded its preliminary investigations into imports of steel wheels from China and it has found that exporters are dumping the product in the United States and selling the product at a much lower rate to the U.S. customers compared to the fair value. According to the statement released, Chinese exporters are dumping products at a margin of 231.7 percent.
As a result of the findings, the commerce department has asked the U.S. customs and border patrol (CBP) agency to collect cash deposits from importers of the item based on these preliminary rates.
The investigation was initiated based on petitions filed a group of companies; Accuride Corporation (Evansville, IN) and Maxion Wheels Akron LLC (Akron, OH).
According to the department’s calculations, the imports of steel wheel from China were valued at an estimated $388 million in 2017.
Under President Trump, the U.S. Commerce Department has significantly stepped up its investigations into foreign malpractices in trade and the number of investigations initiated is 245 percent more than the previous administration.
