Commerce to Require CV Duty Cash Deposits on Pet Resin From China and India, Not Oman
The Commerce Department will require cash deposits of estimated countervailing duties on polyethylene terephthalate resin from China and India, but will not at this time require cash deposits on PET resin from Oman, it said in an Aug. 10 fact sheet announcing its preliminary CV duty determinations (here). For China, Commerce set CV duty cash deposit rates ranging from 4.27% to 18.88%%, depending on the exporter, beginning on the date Commerce publishes its affirmative preliminary determination. For India, CV duties at 5.55% to 115.04% will be retroactive back to 90 days before the publication date of Commerce's preliminary determination for all Indian exporters except Dhunseri, because of the agency's finding of critical circumstances. Cash deposit requirements for Dhunseri take effect upon publication of the preliminary determination.
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Commerce's antidumping duty preliminary determinations are due in October, at which time Commerce may suspend liquidation and require AD duty cash deposits. The agency's final decisions on CV duties are due in December. ITT will provide more details on Commerce's preliminary CV duty determinations once they are published in the Federal Register.