The US International Trade Commission (ITC) at its meeting on Tuesday decided to continue with countervailing duty on prestressed concrete steel wire strand from India. It also decided that anti-dumping duties on this product from Brazil, India, Korea, Mexico, Thailand, Japan will continue. All the six members of the Commission supported the decision.
ITC has determined that revoking the existing import restrictions on prestressed concrete steel wire strand from India and four other countries would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time, the Commission in a statement.
ITC's action comes under the five-year (sunset) review process required by the Uruguay Round Agreements Act, which requires the Department of Commerce to revoke an antidumping or countervailing duty order after five years unless it determines that revoking the order would be likely to lead to continuation of dumping and of material injury within a reasonably foreseeable time.
The five-year (sunset) review concerning the product from India and five other countries was instituted on December 1, 2008. On March 6, 2009, the Commission voted to conduct full reviews. "As a result of the Commission's affirmative determinations, the existing countervailing duty order on imports of this product from India, the existing antidumping duty orders on imports of this product from Brazil, India, Korea, Mexico, and Thailand and the existing antidumping duty finding on imports of this product from Japan will remain in place," ITC said.
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