US withdraws anti-dumping probe on Sri Lanka rubber bands
Mar 19, 2018 17:59 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The United States has withdrawn charges of anti-dumping and countervailing duty on Sri Lanka rubber band exports, the Ministry of Industry and Commerce said,
The decision to terminate Anti-Dumping and Countervailing Duty Investigations on Sri Lankan rubber bands was taken at a vote held at the International Trade Commission (ITC), USA.
In February 2018, the US announced it would investigate Sri Lanka, China and Thailand to determine whether rubber bands were being dumped in the United States or if producers in China, Sri Lanka, and Thailand received unfair subsidies.
The investigation was triggered after a US-based manufacturer alleged that rubber bands from the three countries were selling at lower than normal prices because they benefited from subsidies.
Sri Lanka's Department of Commerce and Attorney General's office made submissions on behalf of Sri Lankan exporters at the ITC, successfully arguing that rubber band exports to the US were below minimum thresholds in terms of value and volume to warrant an investigation. (COLOMBO, March 19, 2018)