US imposes anti-dumping duties on Chinese hardwood plywood


The United States said on Monday it would impose anti-dumping duties on imports of hardwood plywood products from China, which last year totaled $1.12 billion.

It was the latest move by the Commerce Department against Chinese goods it deems to have benefited from state subsidies, including fresh duties against aluminum foil unveiled last month.

President Donald Trump is returning from an 11-day tour of Asia, where he has said US interests have been ill-served by global trade, while his Chinese counterpart Xi Jinping defended the "irreversible" tide of globalization.

Annually, the US runs a steep trade deficit in goods with China of about $350 billion.

The Commerce Department "determined that exporters from China sold hardwood plywood products in the United States at 183.36 percent less than fair value," a statement said.

It also determined China was providing subsidies to producers ranging from 22.3 percent to 195 percent, and said it would impose tariffs at corresponding rates.

"From January 20, 2017, through November 13, 2017, Commerce initiated 77 antidumping and countervailing duty investigations -- a 61 percent increase from 48 in the previous year," the statement said.