US initiates new anti-dumping duty
The US has initiated new antidumping duty and countervailing duty investigations to determine whether forged steel fittings from India and Korea are being dumped there and to find if producers in India are receiving unfair subsidies. 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 alleged dumping margins range from 45.31 -198.38% for Korea and 52.48-293.4% for India. Final determinations by the department in these cases are scheduled for March 31, 2020, for the countervailing investigation, and June 15, 2020, for the anti dumping probe. If the dumping or unfair subsidization is noticed, 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.
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