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In its escalating trade dispute with India, the US Department of Commerce said India and China are subsidizing their exports of carbon steel and alloy threaded rod and may face retaliation. .
In its escalating trade dispute with India, the US Department of Commerce said India and China are subsidizing their exports of carbon steel and alloy threaded rod and may face retaliation. .
The Department said on Tuesday that its countervailing duty (CVD) investigations had issued a preliminary ruling that Indian exporters of the product had received subsidies ranging from 6.07 percent to 155.03 percent.
The department said it would announce the final ruling around Dec. 4, and if it is positive, the U.S. International Trade Commission will determine the injury to the U.S. industry in January. If both are positive, then the ministry can go ahead with the imposition of CVD, he said.
The preliminary findings mainly concerned two companies, Mangal Steel Enterprises Ltd. and Daksh Fasteners, who received grants of 6.07 percent and 155.03 percent respectively. Last year, the United States imported $ 35.8 million worth of carbon steel and alloy threaded rods from India, the department said.
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