The United States Department of Commerce has initiated probe against Indian PTFE (polytetrafluoroethylene ) resins for anti-dumping duty following a petition by the Chemours Company on September 28th.
The Department of Commerce, in a public statement said that the purpose of the probe was to determine whether PTFE resins from India were dumped into the market at less than fair value. Additionally, a countervailing duty investigation was also initiated to determine whether the Indian products were subjected to unjust subsidies.
The Department of Commerce also stated that the petition alleged dumping margins of the Indian resins were in the range of 15.8% to 128.1%. Dumping margin is the amount by which normal value of goods exceeds its export price.
The World Trade Organization regime empowers member states to impose anti dumping duty in order to restore fairness & equity in the market and ensure a level playing field.
This post has been authored by Ravi Shankar from West Bengal National University of Juridical Sciences.
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