Posted at 4:36 PM
Today, U.S. Secretary of Commerce Wilbur Ross announced the affirmative preliminary determination in the countervailing duty (CVD) investigation of imports of ripe olives from Spain.
“The U.S. values its relationships with Spain, but even friendly countries must play by the rules,” said Secretary Ross. “We will continue to review all information related to this preliminary determination while standing up for American workers and companies.”
The Commerce Department preliminarily determined that exporters from Spain received countervailable subsidies of 2.31 – 7.24 percent.
As a result of today’s decision, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of ripe olives from Spain based on these preliminary rates.
In 2016, imports of ripe olives from Spain were valued at an estimated $70.9 million.
The petitioner is the Coalition for Fair Trade in Ripe Olives, whose individual members are Bell-Carter Foods, Inc. (CA), and Musco Family Olive Co. (CA).
Enforcement of U.S. trade law is a prime focus of the Trump administration. From January 20, 2017, through November 21, 2017, Commerce has initiated 77 antidumping and countervailing duty investigations – a 61 percent increase from 48 in the previous year.
The CVD law provides U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of foreign government unfair subsidization of imports into the United States. Commerce currently maintains 412 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade. CVD laws provide U.S. businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair subsidization of imports into the United States.
Unless the final determination is postponed, Commerce is currently scheduled to announce its final CVD determination on April 4, 2018.
If Commerce makes an affirmative final determination and the U.S. International Trade Commission (ITC) makes an affirmative final injury determination, Commerce will issue a CVD order. If Commerce makes a negative final determination or the ITC makes a negative final determination of injury, the investigation will be terminated and no order will be issued.
Click HERE for a fact sheet on today’s decision.
The U.S. Department of Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing U.S. trade laws and does so through an impartial, transparent process that abides by international law and is based solely on factual evidence.
Imports from companies that receive unfair subsidies from their governments in the form of grants, loans, equity infusions, tax breaks, and production inputs are subject to “countervailing duties” aimed at directly countering those subsidies.