US initiates new anti-dumping duty, probes against India and South Korea

The United States has announced the initiation of new anti-dumping duty and countervailing duty investigations to determine whether forged steel fittings from India and South Korea are being dumped in the country and to find if producers in India are receiving unfair subsidies.

These investigations were initiated based on petitions filed by Bonney Forge Corporation (Mount Union, PA) and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, the Department of Commerce said.

The department said dumping margins range from 45.31 to 198.38 per cent for South Korea and 52.48 per cent to 293.40 per cent for India.

According to the Department of Commerce, there are 45 subsidy programs alleged for India, including allegations that the Government of India provides export subsidies, as well as subsidised financing, land, steel, and other raw materials.

If the commerce department makes affirmative findings in these investigations, and if the US International Trade Commission determines that dumped and/or unfairly subsidised US imports of forged steel fittings from India and/or Korea are causing injury to the US industry, the department will impose duties on those imports in the amount of dumping and/or unfair subsidisation found to exist. In 2018, imports of forged steel fittings from India and South Korea were valued at an estimated $ 92.6 million and $ 67.6 million, respectively.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

Leave a Reply

Your email address will not be published. Required fields are marked *