China Dumped Stainless Steel Product at 250% Below Market – US Commerce Dept

© REUTERS / China DailyWorkers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016
Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016 - Sputnik International
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WASHINGTON (Sputnik) – The United States has discovered that China dumped stainless steel products at 250 percent below the fair market value, the Department of Commerce said in a press release on Wednesday.

“Commerce determined that exporters from China have sold stainless steel flanges in the United States at 257.11 percent less than fair value,” the release said.

Following the findings, US Custom and Border Patrol will continue to collect cash deposits from importers of Chinese stales steel flanges, the document specified.

US President Donald Trump and Chinese President Xi Jinping, right, arrive for a meeting on the sidelines of the G-20 Summit in Hamburg, Germany, Saturday, July 8, 2017 - Sputnik International
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As a result of the final determination, the Commerce Department will instruct US Customs agents to collect duties on imports of stainless steel flanges from China based on that rate, the release added.

The Commerce Department currently maintains 440 antidumping and countervailing duty orders, which provide relief to American companies and industries impacted by unfair trade, the release said.

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