CINCINNATI, Jan. 6, 2020 /PRNewswire/ -- KYOCERA SENCO Industrial Tools, Inc. (Senco), the nation's largest staple manufacturer, today welcomes a decision by the U.S. Department of Commerce (DOC) to impose preliminary antidumping duties of 301.64 percent on all imports of medium and heavy collated steel staples from China. The duties will take effect on or about January 10, and will be collected on imports dating back to mid-October. These duties will be imposed on top of anti-subsidy duties of 12.38 percent up to 156.99 percent, levied in a preliminary decision released in early November 2019. The combined preliminary duties now total 303.48 percent to 448.09 percent.
"We should not have to compete with dumped and subsidized imports and applaud the Department of Commerce for continuing its important work to stop unfair and illegal trade practices," said Cliff Mentrup, CEO of Senco. "This development is certainly another step in the right direction. It's good news for our company and the entire industry."
The antidumping investigation was initiated on July 3, 2019 in response to petitions filed by Senco, wherein the company asked DOC and the U.S. International Trade Commission (ITC) to investigate imports from China. An antidumping (AD) investigation commenced to address unfair pricing along with a countervailing (CVD) duty investigation to address unfair subsidies. The company sought relief in the form of duties in both cases.
Since then, the two investigations have moved swiftly and smoothly, even ahead of schedule at times. The DOC issued an expedited preliminary decision in early November allowing retroactive imposition of duties after finding critical circumstances, including a 55% increase in imports in the three months immediately after these cases were filed as importers rushed in imports in an attempt to avoid duties.
A final determination in the anti-dumping investigation is expected around May 19, 2020.
For more on the company's petitions, see the company's press release.
For more on the ITC's investigation, review the commission's press release.
For more on DOC's preliminary CVD determination, review the agency's fact sheet here.
For more on DOC's preliminary AD determination, review the agency's fact sheet here.
Contact Elizabeth Heaton, [email protected], 202-445-9858
SOURCE KYOCERA SENCO Industrial Tools, Inc.