US imposes anti-dumping duties on Chinese hardwood plywood

US imposes anti-dumping duties on Chinese hardwood plywood

Hardwood plywood imports from China to the US totaled US$1.12 billion in 2016. (Photo: AFP/Saul Loeb)

WASHINGTON: The United States said on Monday (Nov 13) it would impose anti-dumping duties on imports of hardwood plywood products from China, which last year totaled US$1.12 billion.

It was the latest move by the Commerce Department against Chinese goods it deems to have benefited from state subsidies, including fresh duties against aluminum foil unveiled last month.

President Donald Trump is returning from an 11-day tour of Asia, where he has said US interests have been ill-served by global trade, while his Chinese counterpart Xi Jinping defended the "irreversible" tide of globalisation.

Annually, the US runs a steep trade deficit in goods with China of about US$350 billion.

The Commerce Department "determined that exporters from China sold hardwood plywood products in the United States at 183.36 per cent less than fair value," a statement said.

It also determined China was providing subsidies to producers ranging from 22.3 per cent to 195 per cent, and said it would impose tariffs at corresponding rates.

"From January 20, 2017, through November 13, 2017, Commerce initiated 77 antidumping and countervailing duty investigations - a 61 per cent increase from 48 in the previous year," the statement said.

Source: AFP/zl