CINCINNATI, June 6, 2019 /PRNewswire/ -- The nation's largest staple manufacturer, Kyocera Senco Industrial Tools., Inc. (Senco), today filed petitions to stop China, Taiwan, and Korea from selling dumped and unfairly subsidized collated medium and heavy staples into the United States.
As part of its antidumping and countervailing petitions, the company is asking the Department of Commerce (DOC) and International Trade Commission (ITC) to impose duties on all three countries to offset unfair pricing, and additional duties against Chinese imports to offset unfair subsidies.
"American manufacturers are getting hammered from all sides and illegal trade practices are adding insult to injury," said Cliff Mentrup, CEO of Senco. "Senco's filing is the first step in restoring fair competition to the U.S. market and confidence to U.S. workers and consumers. We look forward to seeing our trade laws enforced."
The staples covered by Senco's petitions are used to build prefabricated houses, recreational vehicles, cabinets, modular homes, furniture, and on-site home construction, as well as many other applications. The company has been a world leader in developing these staples and related products, introducing numerous innovations since its origins in 1948. Today Senco operates in a 500,000 sq ft manufacturing and distribution facility in Cincinnati, Ohio where over 700 types of collated fasteners are manufactured today, including the collated staples covered by this petition. Senco has over 400 employees located in the manufacturing facility and throughout the U.S.
The petitions explain that imports of certain collated steel staples from China, Taiwan and Korea have increased by over 20% in the past three years. The petitions also calculated dumping margins up to 123 percent. The dumping margin is the difference between the price Chinese, Taiwanese, and Korean producers each respectively charge U.S. customers and a normal value calculated under U.S. trade law.
"Enforcing trade rules will level the playing field for the U.S. industrial staple manufacturers." Mentrup continued. "On behalf of our employees, customers, and colleagues, we look forward to ensuring fair trade is restored."
Senco's filings come during a tenuous time for American manufacturers already facing several challenges. Unpredictable tariffs that have driven up costs of raw materials and lowered demand for exports.
A preliminary determination on the matter is expected as early as July 2019.
Contact Elizabeth Heaton, [email protected], 202-445-9858
SOURCE Kyocera Senco Industrial Tools., Inc.