Market Dynamics

China responds to US investigation of Chinese PET resins

Time: 2015-08-21 Source from: plasticsnews
A spokesman from China's Ministry of Commerce said Beijing is "paying close attention" to the U.S. government's handling of the antidumping and countervailing duties case of PET resins imported from China.
The U.S. Department of Commerce on Aug. 10 announced its preliminary decisions in the countervailing duty investigations of PET resins from China. It posted in the Federal Register calculated subsidy rates for each Chinese exporter, ranging from 4.27 percent to 18.88 percent.
"China notices that the U.S. disregarded China's defense and insisted unjust and discriminatory practices and falsely concluded subsidies in the forms of government loans, low-cost feedstock, and low-cost power utilities," Shen Danyang said in an Aug. 19 press briefing in Beijing.
"The Chinese government is paying close attention to this," he said, according to an official transcript.
He also called for the United States to strictly abide by World Trade Organization policies, "carefully handle this case," and make a fair final ruling.
"China is willing to work with the U.S. to actively promote bilateral trade dialogue and cooperation, properly handle trade frictions and maintain the healthy development of bilateral trade," Shen added.
The Commerce Department also preliminarily determined countervailing subsidies received by India exporters of PET resins to the United States in the range of 5.5 percent to 115.04 percent. It did not find subsidies provided to PET resin exporters in Oman.
Canada, which is included in the same investigation, has not received a preliminary decision.