Posted at 5:19 PM
Today, the U.S. Department of Commerce announced the affirmative final determination in the antidumping duty (AD) investigation of imports of tapered roller bearings from Korea.
Commerce determined that exporters from Korea have sold tapered roller bearings in the United States at 8.21– 52.44 percent less than fair value.
As a result of the decision, Commerce will instruct U.S. Customs and Border Protection (CBP) to continue to collect cash deposits from importers of tapered roller bearings from Korea based on these final rates.
In 2017, imports of certain tapered roller bearings from Korea were valued at an estimated $67.4 million.
The petitioner is the The Timken Company (OH).
The strict enforcement of U.S. trade law is a primary focus of the Trump Administration. Since the beginning of the current Administration, Commerce has initiated 118 new antidumping and countervailing duty investigations - this is 59 percent more than the 74 initiations in the last 515 days of the previous administration.
Antidumping duty laws provide American businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of the unfair pricing of imports into the United States. Commerce currently maintains 449 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade.
The U.S. International Trade Commission (ITC) is scheduled to issue its final determination on or around August 2, 2018. If the ITC makes an affirmative final injury determination, Commerce will issue an AD order on subject merchandise from Korea. If 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 on factual evidence provided on the record.
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.