WASHINGTON: The United States Commerce Department on Friday accused companies from China, Canada, and Germany of selling goods in lower prices in the US Market than in their home markets.
A statement issued by the Commerce Department accused China, Canada, and Germany of permitting companies within their jurisdictions to engage in unfair pricing practices.
US Accuses China, Canada, Germany Companies of Unfair Pricing
A preliminary probe revealed that the Canadian subsidiary of steelmaker ArcelorMittal and the Germany-based company thyssenkrupp were involved in “dumping” tin mill or coated steel into the US market.
In the investigation, the both companies were found to have dumping rates of 5.3 percent and 7.0 percent, respectively, claimed the Commerce Department.
This indicates that they were selling their goods in the US market at prices lower than those in their respective home markets, according to the US allegations.
An unnamed Chinese company was also implicated in dumping, with a substantial dumping rate exceeding 122 percent.
The investigation found that imports from Korea, the Netherlands, Taiwan, Turkey, and the United Kingdom were not subjected to dumping.
The Commerce Department stated it would conduct a more extensive inquiry into the named companies and provide all parties involved with an opportunity to respond to the preliminary findings.
A final determination concerning China is scheduled to be announced on October 31, while determinations for other countries are anticipated to be released on or around January 6, 2024, as per the Commerce Department’s announcement.
