The US Department of Commerce has determined that countervailable subsidies are being provided to exporters of forged steel fittings from China that sell material in the US.
In an order slated for publication on Mar 18, Commerce stated that Both-Well (Taizhou) Steel Fittings received government financial aid during the period of review (POR), March 14, 2018, through December 31, 2018. The agency has therefore assigned a countervailing duty (CVD) of 25.90pc to Both-Well and 35pc to other Chinese companies, which produce and export this material to the US.
Commerce will instruct US Customs and Border Protection to collect cash deposits equivalent to the estimated CVD rate for all shipments from the parties involved during the POR.