US Slaps High Duties on Vietnamese, Chinese Thermoformed Products
The US Department of Commerce (DOC) has imposed substantial anti-dumping and countervailing duties on Vietnamese and Chinese exporters of thermoformed moulded fibre products. The move follows an investigation into alleged unfair trade practices.
The DOC set final anti-dumping duties for Vietnamese producers at 1.38 per cent for two mandatory respondents, with other producers facing a hefty 212.27 per cent rate. Viet Nam exported around US$23 million worth of these products to the US in 2023. In the countervailing duty case, one Vietnamese mandatory respondent received a final rate of 5.06 per cent, with other companies facing the same duty. Chinese exporters received rates ranging from 7.56 per cent to 319.92 per cent.
Chinese exporters also faced higher anti-dumping rates, ranging from 49.01 per cent to 477.90 per cent. The US International Trade Commission (ITC) is set to issue its final injury determination by November 8. If US industry is found to have suffered material injury, duties will take effect from November 15. Companies that do not cooperate in the investigation will be hit with antidumping and countervailing duties of 212.27 per cent, though specific names were not provided.
The DOC's actions aim to safeguard US industries from unfair trade practices. The ITC's final determination will significantly impact the future of these products' imports into the US. The high duties imposed on Vietnamese and Chinese producers may reshape the market dynamics for thermoformed moulded fibre products.
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