The U.S. Commerce Department has announced that it is taking action against the excessive imports of polyetrafluoroethylene (PTFE) resin from both China and India.
Used in such products as gas-line manifolds, chemical industry gaskets, filtration housings, semiconductor parts, and aircraft wiring, PTFE is one of the world’s most versatile component materials capable of withstanding both cold and hot temperature extremes.
The Commerce Department initially announced it was launching an anti-dumping investigation last fall after the Wilmington, Delaware-based Chemours Company LLC filed a petition charging exporters from China and India were selling PTFE resin at less than fair value.
In 2016, the estimated import value of PTFE resin from China and India stood at $24 million and $14 million respectively.
At the same time, the Commerce Department said it would initiate a countervailing duty investigation to find out whether PTFE resin producers in India were receiving unfair subsidies.
“The Department will act swiftly, while assuming a full and fair assessment of the facts, to ensure that everyone trades on a level playing field,” Commerce Secretary Wilbur Ross said as the investigation was officially revealed.
Now, in instructing the U.S. Customs and Border Protection department to collect cash deposits from importers of PTFE resin from China and India, Ross said he was determined to “continue to stand up for American workers and businesses in order to ensure that everyone trades on a level playing field.”
By Garry Boulard
Get stories like these right to your inbox. Sign up for our newsletter