CINCINNATI, Oct. 29, 2019 /PRNewswire/ -- KYOCERA SENCO Industrial Tools, Inc. (Senco), the nation's largest staple manufacturer, today applauded the U.S. Department of Commerce (DOC) for expediting efforts to enforce U.S. trade laws – and specifically, its preliminary determination that critical circumstances exist with respect to imports of certain collated staples from China.
In a notice released on Friday, DOC announced a preliminary finding that critical circumstances exist. Those circumstances include a 55% increase in imports, as importers rushed to avoid potential duties likely to result from Senco's antidumping (AD) and countervailing (CVD) petitions filed in June. These investigations can take months, but due to compelling evidence, DOC expedited its preliminary determination in just a few short weeks, clearing the way for duties to be imposed retroactively on Chinese staples imported into the U.S. from mid-August 2019 onward.
"The Commerce Department has been steadfast in its efforts to enforce the trade laws and protect U.S. manufacturing and workers, as this decision shows," said Cliff Mentrup, CEO of Senco. "We applaud the DOC for conducting a thorough examination of the allegations and then taking swift and appropriate action to begin to restore fair competition."
Senco filed AD and CVD petitions against three countries, including China on June 6. In its petitions, the company asked the DOC and the International Trade Commission to impose duties on all three countries to offset unfair pricing, and additional duties against Chinese imports to offset unfair subsidies. DOC initiated AD and CVD investigations, with respect to China, on July 3.
The company followed with allegations of critical circumstances on September 17, and supplemental allegations on October 11 and 15. A preliminary decision by DOC was expected by November 5, but the agency expedited its process.
Preliminary determinations of the margins of dumping and improper subsidies will be released in the CVD and AD investigations on November 5, 2019 and January 3, 2020, respectively.
"The ripple effect of unfair and illegal trade is both vast and unnerving," Mentrup continued. "We are pleased by this development and look forward to seeing our trade laws enforced."
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 the DOC's investigation, review the agency's fact sheet here.
Contact Elizabeth Heaton, [email protected], 202-445-9858
SOURCE KYOCERA SENCO Industrial Tools, Inc.