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Chinese Taiwan, South Korea dumped textile fibers effects the U.S. market

2018-2-2

Exporters from Chinese Taiwan and South Korea have sold the low melt polyester staple fiber (PSF) at 52 percent and at 0 to 16.48 percent less than fair value, respectively in the U.S., violating U.S. trade laws, that could lead to anti dumping duties the U.S. Department of Commerce said in a statement released Monday evening in the U.S. The petitioner in this case was Nan Ya Plastics Corporation, America, a wholly owned subsidiary of Nan Ya Plastics Corporation, Taiwan.

Should the Commerce Department confirm its preliminary finding of dumping in its final determination, due out in June, and the U.S. International Trade Commission (ITC) determines that the dumping has had harmful effects on the U.S. market, anti-dumping duties will be imposed on imports of the product from Taiwan.

Per U.S. law, which seeks to protect the interests of U.S. businesses, foreign companies that price their products in the U.S. market below the cost of production or below prices in their home markets are subject to anti-dumping duties.

Commerce Secretary Wilbur Ross said that today's decision allows U.S. producers of low melt polyester staple fiber to receive relief from the market-distorting effects of foreign producers dumping their goods into the domestic market.

In the Taiwan investigation, Far Eastern New Century Corporation was found to have dumped at a rate of 52 percent, and that rate was also applied to other Taiwanese exporters of the fiber.

In the meantime, the Commerce Department has asked U.S. customs to begin collecting cash deposits from importers of the product from Taiwan based on the 52 percent rate to cover initial anti-dumping duties under the preliminary findings.

U.S. imports of low-melt polyester staple fiber from Taiwan were valued at US$26.8 million in 2016.

Source:YNFX
 
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