Mar 19, Washington, DC: The United States International Trade Commission (USITC) has decided to terminate the Antidumping and Countervailing Duty investigations on imports of rubber bands from Sri Lanka.
U.S. Department of Commerce Initiated Antidumping Duty (AD) and Countervailing Duty (CVD) Investigations of imports of rubber bands from China, Sri Lanka and Thailand on 22 February 2018 based on petitions filed by Alliance Rubber Company on January 30, 2018.
In the AD investigations, Department of Commerce was to determine whether imports of rubber bands from China, Sri Lanka, and Thailand are being dumped in the U.S. market at less than fair value and in the CVD investigations, Commerce will determine whether Chinese, Sri Lankan, and Thai producers of rubber bands were receiving government subsidies.
The alleged dumping margins ranged 56.54 percent to 133.13 percent for Sri Lanka and there were 20 subsidy programs alleged for Sri Lanka.
The USITC on March 15 determined that imports of rubber bands from Sri Lanka are negligible.
Chairman Rhonda K. Schmidtlein, Vice Chairman David S. Johanson, and Commissioners Irving A. Williamson and Meredith M. Broadbent voted in the affirmative with respect to China and Thailand and made a finding of negligibility with respect to Sri Lanka.
As a result of the Commission's finding of negligibility, the investigation concerning Sri Lanka will be terminated, the USITC announced.
In 2017, imports of rubber bands from Sri Lanka were valued at an estimated $2 million.