U.S. confirmed fact of granting subsidies on stainless steel imported from China

Almaty. July 14. Silkroadnews – On Tuesday the U.S. Commerce Department released the preliminary affirmative determination in a countervailing duty (CVD) investigation on imports of stainless steel from China, Xinhua agency writes.

According to the Department’s statement, producers and exporters of such products from China had received countervailing subsidies from 57.3 percent to 193.12 percent. As a result of the preliminary affirmative determinations, the Commerce Department will instruct the U.S. Customs to collect guarantee deposits on Chinese stainless steel imports.

Xinhua reminds, this March, in response to a request from AK Steel Corporation and other steel companies, the Commerce Department launched antidumping duty and CVD investigations.

According to the U.S. procedures, the U.S. Department of Commerce and the U.S. International Trade Commission (ITC) are scheduled to make their final determinations in November this year and January next year respectively. Punitive duties would be imposed only after both the Commerce Department and ITC make their affirmative final rulings.

According to the Department’s official data, last year the U.S. imports of steel products from China were estimated at about $302 million.