The U.S. Commerce Department has found China unfairly subsidized steel wheels exported to the United States and sold them at prices below fair value, the department announced on Friday in its final determination.
If the U.S. International Trade Commission issues a final finding that U.S. producers are being harmed, then tariffs on the products will go into effect for five years.
The United States made its initial determination in October. It opened the investigation after receiving complaints from Accuride Corporation of Evansville, Indiana, and Maxion Wheels Akron LLC of Akron, Ohio.
U.S. imports of steel wheels from China were valued at $388 million in 2017, the Commerce Department said.
The department`s finding comes on the eve of the latest trade talks between U.S. and Chinese negotiators seeking to ease eight months of tensions between the globe`s two largest economies.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.