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October 29, 2009

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Chinese Steel Wire Strand Imports Scrutinized

THE United States government announced preliminary determination in the countervailing duty investigation on imports of prestressed concrete steel wire strand from China, according to a statement released by the Commerce Department.

The department on Tuesday said Chinese producers and exporters of prestressed concrete steel wire stand have received net countervailable subsidies ranging from 7.53 to 12.06 percent.

As a result of this preliminary determination, the department will instruct US Customs and Border Protection to collect a cash deposit or bond on imports of prestressed concrete steel wire strand from China.

The department is set to issue its final determination in January 2010. If the department makes an affirmative final determination, and the US International Trade Commission also agrees that imports of prestressed concrete wire strand from China materially injure, or threaten material injury to the domestic industry, the department will issue a countervailing duty order in March 2010.


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