FACT SHEET
Commerce Issues Affirmative Preliminary Determinations in the Countervailing Duty Investigations of Imports of Carbon and Alloy Steel Threaded Rod from China and India
• On July 23, 2019, the Department of Commerce (Commerce) announced the affirmative preliminary determinations of the countervailing duty (CVD) investigations of imports of carbon and alloy steel threaded rod from China and India.
• The CVD law provides U.S. businesses and workers with a transparent, quasi-judicial, and internationally accepted mechanism to seek relief from the market-distorting effects caused by unfair subsidization of imports into the United States, establishing an opportunity to compete on a level playing field.
• For the purpose of a CVD investigation, a countervailable subsidy is financial assistance from a foreign government that benefits the production of goods by foreign companies and is limited to specific enterprises or industries, or is contingent either upon export performance or upon the use of domestic goods over imported goods.
• In the China investigation, Commerce assigned a preliminary subsidy rate of 23.41 percent to mandatory respondent Ningbo Zhongjiang High Strength Bolts Co., Ltd. and 24.89 percent to mandatory respondent Zhejiang Junyue Standard Part Co., Ltd. The preliminary subsidy rate for all other Chinese producers and exporters is 23.83 percent.
• In the India investigation, Commerce assigned a preliminary subsidy rate of 6.07 percent to mandatory respondent Mangal Steel Enterprises Limited, and 155.03 percent to mandatory respondent Daksh Fasteners. The preliminary subsidy rate for all other Indian producers and exporters is 6.07 percent.
• Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of carbon and alloy steel threaded rod from China, and India based on these preliminary rates.
• The petitioner is Vulcan Threaded Products Inc. (Pelham, AL). Read More →
