EnThe U.S. Commerce Department has made final countervailing duty rulings on Chinese exports of metal toolboxes, with rates of up to 95.96% assessed. While cash deposits for duties will now be collected, a final decision lies with the International Trade Commission on January 8. The case illustrates just how long such cases can take – the original petition was filed in April. It was also made alongside an anti-dumping case which reached a similar stage earlier this month, as outlined in Panjiva research of November 15.
As often occurs the case has been largely successful in cutting, but not completely suppressing, imports. Panjiva data shows imports fell 37.0% in the three months to November 23 vs. the second quarter, which represented the peak of supplies. The latter point is notable – the peak came after the case was announced as suppliers seek to preempt tariffs.
Source: Panjiva
Chinese manufacturers of the products involved may struggle to replace the lost volumes. The U.S. accounted for 34.1% of Chinese exports in the past three years, and exports in total fell 14.4% in the third quarter vs. the second.
Source: Panjiva
