WASHINGTON, Feb. 19, 2021 /PRNewswire/ -- The U.S. Department of Commerce has issued preliminary determinations indicating a significant increase in the antidumping and countervailing duties applicable to Indian imports of stainless steel flanges, a move that will ensure fair competition for U.S. manufacturers and their workers. Commerce is expected to publish the preliminary determinations in the Federal Register next week.
The duties cover forged unfinished, semi-finished, and finished stainless-steel flanges from India. Should the agency finalize these determinations, as expected, there will be a retroactive assessment of duties on imports of Indian stainless steel flanges that entered the United States between January 23, 2018 and September 30, 2019. Notably, imports of stainless steel flanges during that period would be subject to a retroactive assessment of approximately 140% of the value of imported products, plus interest. This rate is driven by the Commerce Department's finding that Chandan Steel Limited (Chandan) failed to cooperate to the best of its ability with the review.
"This is an important victory for U.S. stainless steel flanges manufacturers and their workers," said Daniel B. Pickard, a partner in Wiley's International Trade Practice and counsel to the domestic industry. "We are very pleased by Commerce's results, particularly its recognition that a major Indian manufacturer impeded the Department's review. These antidumping duties are crucial to ensuring fair competition in the U.S. market and a healthy domestic industry."
In October of 2018, Commerce published antidumping and countervailing duty orders regarding Indian stainless steel flanges. This preliminary determination relates to the first periodic administrative review to revise the antidumping and countervailing duty rates to reflect Indian exporters' current commercial practices. The recent announcement pertains to a review of the pricing and subsidy practices of India's largest exporters of stainless steel flanges during 2018 and 2019. Commerce concluded that all of the companies under review received subsidies and had sold stainless steel flanges at unfair prices.
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SOURCE Wiley Rein LLP.