U.S. to continue probe into whether China dumping aluminum foil


Reuters

UPDATE 1-U.S. to continue probe into whether China dumping aluminum foil


(Adds background from ITC, U.S. industry group comment)
    WASHINGTON, April 21 (Reuters) - The U.S. International
Trade Commission has made affirmative determinations in its
preliminary phase anti-dumping and countervailing duty
investigations of aluminum foil from China, the agency said on
Friday.
    The USITC voted for continued investigations into whether
aluminum foil imports from China were being dumped or
subsidized, it said in a statement.
    U.S. aluminum foil producers have filed petitions with the
U.S. government accusing Chinese manufacturers of dumping the
product in the United States, the first such case since
President Donald Trump took office. [nL3N1GN0R5]
    China produces over half the world's aluminum and exported
1.1 million tonnes of foil last year, up 13 percent from 2015
and more than double levels at the turn of the decade.
    The U.S. Commerce Department is expected to announce a
preliminary decision on countervailing duty on or about June 2,
and a preliminary decision on anti-dumping duty on or about Aug.
16, the USITC said in a statement later on Friday.
    The investigation follows petitions filed in March by the
Aluminum Association Trade Enforcement Working Group, a U.S.
trade group, which hailed the USITC announcement on Friday.
    "Domestic aluminum foil producers have suffered extensive
injury by unfairly traded imports from China for many years, and
are pursuing these actions to bring about a return of fair
pricing to the U.S. market that will allow them to make
investments to further strengthen their competitiveness," Heidi
Brock, the group's president and chief executive, said in a
statement.
    Aluminum foil imports from China increased by 38.8 percent
from 2014 to 2016, and accounted for more than 70 percent of all
such imports in 2016, driven by low prices, the group said.
    Just before leaving office, the Obama administration
launched a new complaint against Chinese aluminum subsidies at
the World Trade Organization, accusing Beijing of artificially
expanding its global market share with cheap state-directed
loans and subsidized energy.


 (Reporting by Washington Newsroom; Editing by Leslie Adler)
 ((+1 202 898 8322))

Keywords: USA CHINA/ALUMINUM (UPDATE 1)



This article appears in: Politics , World Markets , Stocks , Economy


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