US Commerce Department, ITC probe rubber magnet imports

Washington, DC -- The US International Trade Commission said it will make a preliminary ruling by Nov. 5 on whether U.S. manufacturers of flexible rubber magnets are being hurt by imports from China and Taiwan.

Magnum Magnetics Corp. of Marietta, Ohio, initiated the action with a complaint to the Commerce Department that Chinese and Taiwanese magnet importers were dumping their products on the US market and that China was subsidising its magnet makers.

Based on that complaint, the Commerce Department started the investigations Oct. 12.

According to the Xinhau News Agency, the official government new agency, a representative of the Chinese Ministry of Commerce said it opposed the investigation and that the U.S. is sending wrong signalsö to Chinese manufacturers by sponsoring so many investigations against them.

If the ITC decides against the importers, the Commerce Department then will proceed with preliminary countervailing duty and antidumping duty action.

From Rubber & Plastics News (A Crain publication)