Source: Taipei Times
The US Department of Commerce is to initiate an anti-dumping duty investigation into the import of forged steel fitting products from Taiwan, China and Italy, the Ministry of Economic Affairs said on Friday.
“We have informed domestic steelmakers about the US government’s upcoming investigation. We will also maintain close contact with domestic firms to offer necessary assistance,” the ministry’s Bureau of Foreign Trade said in a statement.
The US International Trade Commission (ITC) had asked the US Department of Commerce to carry out the investigation to see if imports of forged steel fitting products from the three nations have injured or threatened the US industry, the bureau said.
The ITC’s request came after US companies, including Bonney Forge Corp, filed anti-dumping petitions, claiming that imports of the steel products from the aforementioned destinations had been sold in the US at less than fair value, the bureau said.
The US is the main export destination for Taiwanese forged steel fittings, but annual exports to the US have declined over the past three years, the bureau said.
Citing exports data, the bureau said that Taiwanese shipments to the US last year totaled US$15.63 million, down 20.45 percent from US$19.65 million the previous year.
Taiwan accounted for a 5.83 percent share of the US market last year, ranking seventh, the bureau said.
China is the largest exporter of forged steel fittings to the US, shipping US$78.73 million of products last year for a 29.35 percent share of the US market.
Italy ranked fourth with a 7.94 percent market share.