U.S. acts on China polyester “dumping”
December 19, 2006,
Washington – In response to a June 2006 petition by American polyester fiber producers DAK Americas, Charlotte, N.C.; Nan Ya Plastics Corp. America, Lake City, S.C.; and Wellman, Inc., Shrewsbury, N.J.; the U.S. Department of Commerce has decided to impose "antidumping" duties on imports of certain polyester staple fiber from China. The fiber is typically used as stuffing.
Following yesterday’s decision, U.S. Customs and Border Protection must now require importers to post a bond or cash deposit in the amount of the duties, pending the final determination in the investigation and announcement of final duty amounts, which is expected in May 2007.
"Today's announcement by the Commerce Department signals a return of fair pricing and competition in the marketplace," said Paul Rosenthal, lead counsel for the petitioners and managing partner of Kelley Drye Collier Shannon. He said that final antidumping duty margins were expected to be even higher.