US: No punitive duties for China hardwood and plywood

The United States will not impose punitive duties on hardwood and plywood from China, the U.S. trade authority said Tuesday.

The U.S. industry is "neither materially injured nor threatened with material injury" by imports of hardwood and plywood from China that "the U.S. Department of Commerce has determined are subsidized and sold in the United States at less than fair value," the U.S. International Trade Commission (ITC) said in a final ruling.

Five of the six-member commission participated in the investigations and voted in the negative. "As a result of the ITC' s negative determinations, no antidumping or countervailing duty order will be issued," the bipartisan trade panel said.

The Coalition for Fair Trade of Hardwood Plywood of six U.S.- based companies filed a petition to the U.S. trade regulator to seek protection in September last year. The Department of Commerce set final antidumping and countervailing duties on Sept. 17, 2013.

Under the Commerce Department's ruling, Chinese exporters that have sold hardwood and decorative plywood in the U.S. market would have to face antidumping duties ranging from 55.76 percent to 121. 65 percent and countervailing duties ranging from 13.58 percent to 27.16 percent.

"The ITC's ruling confirms that plywood from the United States, China and other countries can continue trade in a fair manner as they always have," said Greg Simon, co-chairman of American Alliance for Hardwood Plywood, an organization of American importers, distributors and manufacturers of hardwood and plywood.

Imports of hardwood and plywood from China were valued at an estimated 747.9 million dollars in 2012, according to the Department of Commerce.