Counterattack quickly! Chinese foil maker will defend U.S. Countervailing ruling
Faced with the prospect of a high "double anti" tariff on Chinese exports of aluminum foil products, China's large export enterprises may be ready for the United States' aluminum foil, and begin a plea against the preliminary ruling by the US side this week.
Reuters quoted informed sources said, the largest U.S. exporters in Shandong Chinese Acer aluminum foil Cmi Holdings Ltd (formerly known as the "Shandong Lufeng aluminum foil Limited by Share Ltd") will join the other 11 companies listed, together to fight back the US ruling. The China Nonferrous Metals Industry Association (CNIA) will take the lead in bringing complaints to the United States International Trade commission.
The report said it would be the first trade rule defense since the inauguration of the Trump administration. The company plans to file a complaint this month, according to the Hong Kong aluminum producer.
8 this month, Japan on Tuesday, the U.S. Department of Commerce announced preliminary results, finds China foil products exported to the United States to accept the 16.56% to 80.97% of the subsidies.
According to the program, the U.S. Department of Commerce and International Trade Commission will be held in October and December this year to make the final ruling on the survey. If the final two agencies were identified, China such products exports to the United States caused substantial damage or threat to the U.S. industry, the U.S. Department of Commerce will request to the relevant product collection "double reverse" anti-dumping and countervailing duties.
Reuters mentioned that if the United States is the final determination of the preliminary results, Acer aluminum will face anti subsidy tariffs of up to 80.97%.
Aluminum is crucial to the nation's national security
In April, the United States began investigating imports of steel and imports of aluminium. Wall Street informative previously mentioned that these two investigations are rare use of the "Trade Expansion Act 1962," 232nd articles. The provision empowers the U. S. Department of Commerce to investigate the impact of imports on national security, while the president of the United States has the right to restrict imports at the end of the investigation.
In an executive memorandum on aluminium imports signed at the end of 4, Trump said the US aluminum industry was "unfairly damaged by overseas trade."". For the US national security, the domestic aluminum industry is critical.
Although the steel and aluminum for investigation is not a country, is product oriented, but as everyone knows, Chinese is the world's largest producer of steel, iron and steel exports has been China Sino US trade friction is the main battlefield, but also the source of the second Chinese aluminum importer, China imported aluminum scale after canada.
Last year, China's aluminum output accounted for more than half of the world's total output, exports 1 million 100 thousand tons of aluminum foil, an increase of 13% compared to the previous year, the export scale is more than two times in the early part of this century.
Wall Street horizons previously quoted analysts said, Trump is actually using the "national security" as a pretext to combat steel dumping, but this decision is likely to complicate the Sino US relations, especially after the Sino US trade is Puming Trone negotiations with North Korea's attitude towards China linked to.
Or more protectionist action
It is worth mentioning that this Tuesday, the Commerce Department said the preliminary independence in April this year, Trump launched the 232nd terms of executive order quoted aluminum products survey. The latter and the similar steel survey results have not yet been announced. This means that future findings could pose a further threat to China's exports of aluminium and steel products.
In April this year, U.S. Secretary of Commerce Ross of the British "Financial Times" said that Trump accused the government of protectionism the wrong goal of criticism, and that the trade protection degree in the United States far less than Europe, Japan and Chinese. At the end of 4, Ross also said that the scope of the national security trade survey may be expanded to semiconductor and aluminum, in the field of trade, semiconductors and aluminum worth investigating.
6 at the end of the new media Axios mentioned, Trump and senior adviser to impose tariffs on imports of steel products, the tax rate may reach 20%; the collection scope may be expanded to other imported products, such as aluminum, paper, semiconductor and washing machine and other equipment.