US to impose fines on imports of rubber bands from China

July 17, 2018

rubber-bandThe US Commerce Department says that rubber bands imported from China will be subject to hefty state subsidies. Meanwhile,  a similar investigation into the same products from Thailand resulted in a leaner fine.

Imports of rubber bands from China were valued at US$4.9 million while those from Thailand in 2017 were valued at $12.1 million.

The department assigned a preliminary subsidy rate of 125.77% to Graceful Imp & Exp Co Ltd, Moyoung Trading Co Ltd and Ningbo Syloon Imp & Exp Co Ltd. The department assigned the same preliminary subsidy rate to other Chinese producers and exporters.

For its Thailand investigation, the department assigned preliminary subsidy rates of 0.23% to Liang Hah Heng International Rubber Co Ltd and 0.37% to U Yong Industry Co Ltd. Since the preliminary determination is negative, no other Thai rubber band producers and exporters were assigned a countervailing duty rate.

The petitioner is Alliance Rubber Co. of Arkansas.  The Commerce department is scheduled to issue its final countervailing duty determinations in this investigation by November this year.

If it makes affirmative final determinations, the US International Trade Commission will make its final injury determinations by December and will issue countervailing duty orders. If Commerce makes negative final determinations, the investigations will end and no orders will be issued.

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Rubber Prices
(Last Updated: 16 Aug 2018)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: Latex India

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