US to Impose Final Duties Of Over 300% On Collated Staple Im
CINCINNATI, May 26, 2020 /PRNewswire/ -- KYOCERA SENCO Industrial Tools, Inc. (Senco), the nation's largest staple manufacturer, announced today that the U.S. Department of Commerce (DOC) will impose combined final antidumping (AD) and countervailing (CVD) duties of 97.93%-305.19% percent on all imports of medium and heavy collated steel staples from China. If the U.S. International Trade Commission (ITC) reaffirms that Chinese imports have injured the U.S. industry, the duties will take effect in early July and will be collected on imports dating as far back as August. The ITC is currently scheduled to vote on June 23, 2020.
"We applaud the Department of Commerce for continuing to prioritize fair trade – especially now, as much of the world is at a standstill," said Cliff Mentrup, CEO of Senco. "U.S. producers have been unfairly impacted by Chinese producers selling their staples here at artificially low and subsidized prices for far too long. Now, as we all work together to fight the spread of COVID-19, there is much uncertainty for U.S. businesses and consumers. Ensuring a level playing field is more important than ever – this decision is good news for our business and our workers."
In 2018, U.S. imports of certain collated staples from China were valued at an estimated $88.8 million, according to Commerce.
SENCO petitioned Commerce to review certain collated staple imports from China in July 2019, setting in motion AD and CVD investigations. An AD case investigates unfair pricing, and a CVD case investigates unfair subsidies. The company seeks relief in the form of special duties in both cases and looks forward to a final resolution.
For more on the company's petitions, see the company's press release.
For more on the ITC's investigation, review the commission's press release.
For more on DOC's preliminary CVD determination, review the agency's fact sheet here.
For more on DOC's preliminary AD determination, review the agency's fact sheet here.
Contact Elizabeth Heaton, [email protected], 202-445-9858
SOURCE KYOCERA SENCO Industrial Tools, Inc.