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U.S. finds China tool chests subsidized, imposes duties

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - The U.S. Commerce Department said on Tuesday it had made a preliminary finding that imports of tool chests and cabinets from China are subsidized, and it imposed countervailing duties ranging from 17.32 percent to 32.07 percent. The case follows a petition from Missouri-based Waterloo Industries Inc, a subsidiary of Fortune Brands and Home Security Inc that says it accounts for more than half of domestic production. In 2016, imports of tool chests from China totaled $990 million."The subsidization of goods by foreign governments is something the Trump administration ...

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First Published: Tue, September 12 2017. 23:03 IST