US Slaps Preliminary Tariffs on PET From Brazil, Indonesia, S Korea, Pakistan, Taiwan

The US Department of Commerce will impose preliminary antidumping duties on polyethylene terephthalate imports from Brazil, Indonesia, South Korea, Pakistan and Taiwan, before making a final determination on the duties on September 17, it said Tuesday.<br />"As a result of today's [Tuesday's] decision, Commerce will instruct U.S. Customs and Border...

The US Department of Commerce will impose preliminary antidumping duties on polyethylene terephthalate imports from Brazil, Indonesia, South Korea, Pakistan and Taiwan, before making a final determination on the duties on September 17, it said Tuesday.

"As a result of today's [Tuesday's] decision, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of PET resin from Brazil, Indonesia, Korea, Pakistan, and Taiwan based on these preliminary rates," the department said in a statement.

For Brazil, M&G Polimeros Brasil faces 24.09% duty while Companhia Integrada Textil de Pernambuco has been hit with 226.91%. All other Brazilian producers and exporters face 93.60% duty.

For Indonesia, Indo-Rama Synthetics and other companies in the country face a duty of 13.16%.

For South Korea, the duties imposed are: SK Chemicals 8.81%, Lotte Chemical and TK Chemical 101.41% and all other companies there 8.81%.

For Pakistan, Novatex and all other domestic companies are hit with 7.75% duty.

For Taiwan, Far Eastern New Century, Far Eastern Textile and Worldwide Polychem (HK) face 11.89% duty while Shinkong Synthetic Fibers face 9.02%. All other Taiwanese companies would be hit by 10.99%.

In 2016, PET imports from Brazil totaled 58,397 mt, 35,420 mt from Indonesia, 26,133 mt from South Korea, 36,767 mt from Pakistan and 115,327 mt from Taiwan.

Source: www.platts.com