U.S. Sets Preliminary Duties on Chinese Plywood
Washington, DC, March 1, 2013 -- The U.S. Commerce Department said it has established preliminary duties of up to 27% on imported plywood from China to cover subsidies for the companies that the Chinese government uses to help keep prices low.
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U.S. plywood manufacturers in North Carolina, New York and Oregon, who formed the Coalition for Fair Trade of Hardwood Plywood, filed a petition last year asking for help. They are also seeking duties to cover "dumping" of product in the U.S. at prices over 300% below fair market value
The majority of importers will have to post a cash deposit estimated duties of either 22.63% or 27.16% in order to bring their products into the U.S.
The government's just-announced preliminary duties covered only the subsidy portion of the case. It will announce preliminary anti-dumping duties by the end of next month. A final decision on both types of duties is expected this summer.
The U.S. imported about $617 million of the hardwood and decorative plywood from China in 2011. The wood is used for flooring and other housing products.