U.S. Sets Preliminary Duties on China Steel Products

(Xinhua News Agency)

The U.S. government announced preliminary determination in the countervailing duty investigation on imports of prestressed concrete steel wire strand from China, according to a statement released by the Commerce Department on Tuesday.

The department said that Chinese producers and exporters of prestressed concrete steel wire stand have received net countervailable subsidies ranging from 7.53 to 12.06 percent.

As a result of this preliminary determination, the Commerce Department will instruct U.S. Customs and Border Protection to collect a cash deposit or bond on imports prestressed concrete steel wire strand from China.

In 2008, imports of prestressed concrete steel wire strand from China were valued at an estimated 178 million U.S. dollars, up from 112 million dollars in 2006.

The petition was filed on May 27, 2009. The U.S. International Trade Commission (ITC) made its preliminary determination on July 13.

The Commerce Department is scheduled to issue its final determination in January 2010. Read more here.