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Fresh probes against Indian forged steel fittings by US

Date: 15-11-2019
Subject: Fresh probes against Indian forged steel fittings by US
New Delhi: The United States has initiated new anti-dumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find out whether producers in India are receiving unfair subsidies. “There are 45 subsidy programmes alleged for India, including allegations that the Government of India provides export subsidies, as well as subsidised financing, land, steel, and other raw materials,”the US Department of Commerce said on Thursday.

The probe comes amid commerce and industry minister Piyush Goyal’s ongoing visit to the US as the two sides try to iron out issues to arrive at a bilateral trade package.

In 2018, imports of forged steel fittings from India and Korea were valued at an estimated $92.6 million and $67.6 million, respectively. The investigations were initiated on the basis of petitions filed by Bonney Forge Corporation and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union. The alleged dumping margins range from 52.48-293.4% for India and 45.31-198.38% for Korea.

If the department concludes that the allegations are valid and the US International Trade Commission determines that dumped and unfairly subsidised imports of forged steel fittings are hurting the American industry, it will impose duties on those imports, said people aware of the matter. The commission will conduct its own investigations into whether the American industry and its workforce are being harmed by such imports, and make its preliminary determinations by December 9.

If the department determines that dumping or unfair subsidisation is occurring, then it will instruct US Customs and Border Protection to start collecting cash deposits from all US companies importing forged steel fittings from India and Korea, said the people. The department’s final determinations are scheduled for March 31, 2020, for the countervailing investigation, and June 15 next year for the anti-dumping probe.

Source: economictimes.indiatimes.com

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