Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

U.S. finds China dumped aluminum foil on U.S. market, imposes duties

Published 10/27/2017, 06:42 PM
© Reuters. FILE PHOTO: File picture of workers riding on an motor rickshaw through an aluminium ingots depot in Wuxi

WASHINGTON (Reuters) - The U.S. Commerce Department said on Friday it made a preliminary finding that China dumped aluminum foil on the U.S. market and imposed duties ranging from 97 percent to 162 percent.

In 2016, U.S. aluminum foil imports from China were valued at $389 million, it said in a statement. The department said it will issue its final determination on Feb. 23, 2018.

The decision was a victory for U.S. aluminum foil makers who filed a complaint with the department accusing Chinese producers of dumping foil into the U.S. market.

In August, the department placed preliminary anti-subsidy duties of about 17 percent to 81 percent on China's aluminum foil imports.

The Commerce Department was scheduled to issue its preliminary anti-dumping decision on Oct. 5, but delayed it "to fully analyze information pertaining to China's status as a non-market economy (NME) country," the department said at the time.

© Reuters. FILE PHOTO: File picture of workers riding on an motor rickshaw through an aluminium ingots depot in Wuxi

President Donald Trump's administration has made enforcement of trade laws a top priority. From Jan. 20, the day Trump took office, through Oct. 25, the Commerce Department said it initiated 77 anti-dumping and countervailing duty investigations, up 61 percent from the previous year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.