US Issues New Preliminary Antidumping Duties
US Secretary of Commerce Wilbur Ross has announced the affirmative preliminary determination in the antidumping duty (AD) investigation of imports of certain tapered roller bearings from South Korea.
The Commerce Department preliminarily determined that exporters from South Korea have sold certain tapered roller bearings in the United States at 21.23 percent to 45.53 percent less than fair value. The petitioner in this case is The Timken Company, which is based in Ohio.
“The United States values its relationship with South Korea, but our trading partners must play by the rules,” said Ross. “We will continue to review all information related to this case before making our final determination.”
Foreign companies that price their products in the US market below the cost of production or below prices in their home markets are subject to antidumping duties. The AD law provides US businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the United States. Commerce currently maintains 422 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade.
As a result of the department’s finding, Commerce will instruct US Customs and Border Protection (CBP) to collect cash deposits from importers of certain tapered roller bearings from South Korea based on these preliminary rates.
In 2016, imports of tapered roller bearings from South Korea were valued at an estimated $60.1 million.
Commerce is scheduled to announce the final determination in this investigation on or about April 16, 2018, although this deadline may be extended.
If Commerce makes affirmative final determinations of dumping and the US International Trade Commission (ITC) makes an affirmative final injury determination, Commerce will issue an AD order. If Commerce makes a negative final determination of dumping or the ITC makes a negative final determination of injury, the investigation will be terminated and no order will be issued.