ITA Hits Chinese Wire Strand Exporters Over Subsidies

Law360, New York (October 28, 2009, 1:10 PM EDT) -- The U.S. Department of Commerce has issued its preliminary determination in its countervailing duty investigation on imports of prestressed concrete steel wire strand from China, finding that the country's exporters have benefited from unfair Chinese government subsidies.

The International Trade Administration on Tuesday announced that Chinese concrete steel wire producers have received net countervailable subsidies ranging from 7.53 percent to 12.06 percent.

Respondent Xinhua Metal Products Co. received a preliminary subsidy rate of 12.06 percent, while fellow mandatory respondent Fasten Group Import & Export Co. Ltd....
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