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Hearing on US PET anti-dumping probe set for Sep 13 in Washington
HOUSTON, June 1, 2018 (PCW) -- The US International Trade Commission will hold a hearing on September 13 in Washington, D.C., as part of the final phase of the US government’s investigation into whether PET imports from Brazil, South Korea, Indonesia, Pakistan and Taiwan were dumped in the US.
The US Commerce Department made a preliminary finding in March that the imports were sold in the US at “less-than-fair value.” This resulted in anti-dumping duties imposed on imports from these countries. The duties are in the form of cash bonds that must be posted with US Customs and Border Protection before imports from these countries can be cleared for entry.
The amount of the bond varies on the value of the import load and the dumping duty “margin.” A load of PET valued at $1 million with a 15% margin rate, for instance, would require a bond of $150,000.
The US ITC is an independent US government agency.
The investigation began in Sep 2017 when four US PET producers filed a complaint alleging imports from the five countries were being dumped. -- Xavier A. Cronin