trending Market Intelligence /marketintelligence/en/news-insights/trending/njo_vfnnsxgivrtkvgk0vg2 content esgSubNav
In This List

US trade panel rules Chinese aluminum foil imports hurt domestic industry

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook


US trade panel rules Chinese aluminum foil imports hurt domestic industry

The U.S. International Trade Commission, or ITC, made a final finding that aluminum foil imports from China harm the domestic industry, affirming anti-dumping and countervailing duties set to be imposed by the Commerce Department.

The department said in February it would enforce anti-dumping duties ranging from 48.64% to 106.09% and countervailing duties ranging from 17.14% to 80.97% on imported Chinese aluminum foil deemed to have benefited from unfair subsidies and sold at less than fair value.

The government investigation into the Chinese aluminum foil imports followed the petitions filed by the Aluminum Association Trade Enforcement Working Group in March 2017.

"Today's decision is a victory not only for U.S. foil producers but also for the rules-based trading system," said Aluminum Association President and CEO Heidi Brock. "The ITC's determination will move the foil industry toward a level playing field, allowing domestic producers of aluminum foil to pursue investments in their operations – investments that will further strengthen their competitiveness."

About $389 million worth of aluminum foil from China was imported to the U.S. in 2016, according to the Commerce Department. The Aluminum Association said China was the largest supplier to the U.S. market during that year, accounting for almost 70% of the imports.

China reportedly said in February that it was "strongly dissatisfied" with the duties to be imposed by the U.S.

The latest U.S. trade action comes a week after President Donald Trump signed orders enacting tariffs of 25% on global steel imports and 10% on aluminum.