U.S. confirms duties on imports of steel threaded rod from India

[Editor: This gives India Finance minister, a chance to impose similar anti--dumping duty on cheap steel imports, which is threatening the domestic sector] 

Photo: TRUSTe Blog

WASHINGTON, Tue Jul 8, 2014: - The United States on Monday confirmed import duties on shipments of steel threaded rod from India after finding the goods were made using unfair government subsidies and sold too cheaply in U.S. markets.

In its final ruling, the Department of Commerce said most imports of the rod, which were valued at an estimated $19 million in 2013, would face a dumping margin of 16.74 percent and a subsidy rate of 8.61 percent.

The rod is often used in commercial construction to support electrical conduits, pipes for plumbing, ductwork and sprinkler systems and for bolting together pipe joints in the waterworks industry.

The complaint was lodged by All America Threaded Products, Bay Standard Manufacturing and Vulcan Threaded Products. The U.S. International Trade Commission is due to make its final decision in the case by Aug. 17.

Courtesy: Reuters