PET Resin: CV Rates Rise in Final Determinations
The Commerce Department issued its final affirmative countervailing duty determinations on polyethylene terephthalate resin from India (C-533-862) (here) and China (C-570-025) (here). Suspension of liquidation is currently not in effect for entries on or after Dec. 12, and Commerce will only require cash deposits of estimated CV duties on future entries if it issues a CV duty order.
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Commerce continued to find no countervailable subsidization for PET resin from Oman (C-523-811) (here), and will end the Oman investigation with no CV duties imposed.
(Commerce also issued a final affirmative determination in companion antidumping duty investigations, see 1603110014.)
Suspension of Liquidation Retroactive 90 Days for Most Indian Cos.
Commerce continued to find "critical circumstances" exist for all Indian exporters except Dhunseri (i.e., JBF and the "all others" companies) because they increased sales of subject merchandise before the preliminary determination in an attempt to get in as much product as possible before duties were imposed. As such, it will order CBP to continue to retroactively suspend liquidation for all subject merchandise from India, except merchandise from Dhunseri, back to May 16, 2015, the date 90 days prior to the preliminary determination. For Dhunseri and all Chinese companies, suspension of liquidation will continue for entries on or after Aug. 14.
CV Susp/Cash Deposit Thru Dec. 11
Commerce will instruct CBP to continue the suspension of liquidation of entries from Aug. 14, 2015 (or May 16, 2015 for certain Indian companies) through Dec. 11, 2015.
CV Liq Reinstated and No CV Cash Deposit as of Dec. 12
Commerce previously instructed CBP to discontinue the suspension of liquidation for CV duty purposes and the collection of CV duty cash deposits for subject merchandise entered on or after Dec. 12, 2015, the expiration date of the 120-day "provisional measures" period during which Commerce can suspend liquidation without a CV duty order in place.
CV Liq to be Suspended Again & CV Cash Deposit Required if Order Issued
Commerce will issue a CV duty order, reinstate the suspension of liquidation, and require a cash deposit of estimated CV duties for entries of subject merchandise at the revised CV rates listed below if the International Trade Commission issues a final affirmative injury determination (due April 18).
China.
| Company | CV Rate |
|---|---|
| Jiangyin Xingyu New Material Co., Ltd., Jiangsu Xingye Plastic Co., Ltd., Jiangyin Xingjia Plastic Co., Ltd., Jiangyin Xingtai New Material Co., Ltd., Jiangsu Xingye Polarization Co., Ltd., Jiangsu Sanfangxiang Group Co., Ltd., Jiangyin Hailun Petrochemicals Co., Ltd., Jiangyin Xinlun Chemical Fiber Co., Ltd., Jiangyin Huasheng Polymer Co., Ltd., Jiangsu SanFangxiang International Trading Co., Ltd., Jiangyin HuaYi Polymerization Co., Ltd., Jiangyin Xingsheng Plastic Co., Ltd., Jiangyin Chemical Fiber Co., Ltd., Jiangyin Huaxing Synthetic Co., Ltd., Jiangyin Bolun Chemical Fiber Co., Ltd. | 6.83% (from 4.27%) |
| Dragon Special Resin (Xiamen) Co., Ltd.; Xiang Lu Petrochemicals Co., Ltd.; Xianglu Petrochemicals (Zhangzhou) Co., Ltd.; Xiamen Xianglu Chemical Fiber Company Limited; and Dragon Aromatics (Zhangzhou) Co., Ltd. | 47.56% (from 18.88%) |
| All Others | 27.20% (from 11.58%) |
India.
| Company | CV Rate |
|---|---|
| Dhunseri Petrochem Ltd (formerly Dhunseri Petrochem & Tea Ltd) | 5.12% (from 5.5%) |
| JBF Industries Limited | 153.8% (from 115.04%) |
| All other companies | 5.12% (from 5.5%) |
(Note that there is no CV duty liability, and no CV duties will be assessed, on entries during the "gap period" of Dec. 12 until the date an ITC final affirmative injury determination is published in the Federal Register.)
(The period of investigation is 01/01/14 -- 12/31/14. See Commerce's notice for more information, including the scope of the order, detailed instructions on cash deposit and assessment rates, changes since the preliminary determination, etc. See 1508130057 for summary of the preliminary determination of this investigation for China, and 1508130058 for the preliminary determination for India.)
(Federal Register 03/14/16)