Jiangsu Yigang Enterprise Defends US Countervailing Investigation Final Decisive Tax Rate Declines 10 Times

Abstract "The reason why we dare to stand up and fight this lawsuit with the US is not only for ourselves, but also for the unpredictable international status of China's special steel." The US Department of Commerce imposes high anti-subsidy and anti-dumping duties on Chinese special steel companies. Tiangong International Co., Ltd. is located in Zhenjiang, Jiangsu Province...

"The reason why we dare to stand up and fight this lawsuit with the US is not only for Tiangong itself, but also for the unpredictable international status of China's special steel." The US Department of Commerce imposed high anti-subsidy and anti-dumping duties on Chinese special steel companies. Tiangong International Co., Ltd., located in Zhenjiang, Jiangsu, defended the US countervailing investigation. On September 1, the chairman of the board of directors, Zhu Xiaokun, said in an interview with the media.

Previously, the United States launched anti-subsidy and anti-dumping (ie “double-reverse”) investigations against Chinese special steel companies. On January 17, 2017, the US Department of Commerce ruled that it would impose a 68.27% anti-dumping surtax and a 251% countervailing surcharge on China's steel exports to the United States. The two tax rates are superimposed, and Chinese steel companies exporting to the United States will be subject to a special tariff of 319.27%. "The US intends to close the door to imports of Chinese steel companies through high tax rates."

Xu Shaoqi, Minister of Legal Affairs of Tiangong International, told the reporter that after the results of the US ruling were announced, according to the procedures, Chinese related companies were dissatisfied with the results of the ruling, and they could use the anti-subsidy accelerated review procedure in the US trade remedy channel to defend. “But few companies will use this defense process because the chances of winning are very small after the final review.”

Zhu Xiaokun said: "I have always believed that we must be made in China with the spirit of artisans. No matter how the international market treats us, we all have the strength to stand up." It is understood that Tiangong International, a private enterprise located in Zhenjiang, Jiangsu, has been ranked among the top four in the world for tooling steel for six consecutive years. "A lot of people told us before the defense that it is unlikely to win, but we still have to defend ourselves, that is, we must stand up and represent Chinese companies to deal with all unfair international trade barriers."

On April 19, 2017, Tiangong officially submitted an application for countervailing accelerated review to the US Department of Commerce through US lawyers. On May 22, 2017, the US Department of Commerce officially launched an accelerated review of the Tiangong countervailing investigation. After 15 months of responding to the defense, the US ruling finally reduced the countervailing duty rate from 251% to 24.04%, and only applied to China Tiangong. On this day, Tiangong has the same status as the EU in the US market.

Xu Shaoqi said that while the countervailing defense has won the case, Tiangong will continue to submit the annual administrative review of the anti-dumping tax. Try to reduce the 68.27% anti-dumping duty to a reasonable level. In the end, it will achieve the goal of stabilizing and expanding the market share of the United States, and actively carry out the "232" and "301" survey response work.

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