The U.S. Commerce Department announced the affirmative preliminary determination in a countervailing duty (CVD) investigation of imports of aluminum wire and cable from China, finding that exporters received countervailable subsidies ranging from 11.57% to 164.16%.
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 antidumping duties. Companies that receive unfair subsidies from their governments—such as grants, loans, equity infusions, tax breaks, or production inputs—are subject to countervailing duties aimed at directly countering those subsidies.
As explained in a Commerce release, the U.S. Customs and Border Protection will be instructed to collect cash deposits from importers of aluminum wire and cable from China based on these preliminary rates.
Commerce is scheduled to announce its final determination on or about August 13, 2019.
For more information on this topic or to learn more about KPMG’s Trade & Customs Services, contact:
Doug Zuvich |
John L. McLoughlin |
Andy Siciliano |
Luis (Lou) Abad |
Irina Vaysfeld |
Amie Ahanchian |
Robert Waldrop |
Gisele Belotto |
Christopher Young |
Andy Doornaert |
George Zaharatos |
Jessica Libby |
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