Fuwei Films (FFHL) Gets Antidumping Duty Rate Slightly Higher than Lowest Rung, Following Review
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Fuwei Films (Holding) Co., Ltd. (Nasdaq: FFHL) reports that it was advised of the final results of the second antidumping administrative review of BOPET films originated from China ("the final results") conducted by the U.S. Department of Commerce.
According to the final results, Fuwei received an antidumping duty rate of 8.48%, which is slightly higher than the lowest antidumping duty rate of 8.42% of all the Chinese exporters being reviewed. In accordance with Antidumping Duty statute and the U.S. Department of Commerce regulations, the ADD rate of final results will retroactively apply to those U.S. companies which imported BOPET films originated from China and Fuwei Films USA, LLC will pay the ADD.
Fuwei Films has a 30 day period in which it can file a Court challenge in the U.S. Court of International Trade seeking to further reduce these margins. During the Administrative Review Fuwei submitted information to the Department which demonstrated that a full and complete review of Fuwei would have resulted in a finding of no dumping by Fuwei during the period. Fuwei's U.S. trade counsel has advised Fuwei that the Department's refusal to consider this information was not in accordance with the law and the U.S. Department of Commerce's duties under the law. During the AR period, the export of BOPET films from Fuwei Films to the United States reached 61.9 metric tons in volume and US$156,000 in value.
In addition, on December 30, 2011, the Department commenced its third routine annual review of BOPET films originated from China. In order to gain an opportunity to continue exporting to the United States, Fuwei Films, although not a mandatory respondent, will actively respond to the review to the extent permitted by law and will continue to seek the low rate which should properly apply to its exports to the United States.
According to the final results, Fuwei received an antidumping duty rate of 8.48%, which is slightly higher than the lowest antidumping duty rate of 8.42% of all the Chinese exporters being reviewed. In accordance with Antidumping Duty statute and the U.S. Department of Commerce regulations, the ADD rate of final results will retroactively apply to those U.S. companies which imported BOPET films originated from China and Fuwei Films USA, LLC will pay the ADD.
Fuwei Films has a 30 day period in which it can file a Court challenge in the U.S. Court of International Trade seeking to further reduce these margins. During the Administrative Review Fuwei submitted information to the Department which demonstrated that a full and complete review of Fuwei would have resulted in a finding of no dumping by Fuwei during the period. Fuwei's U.S. trade counsel has advised Fuwei that the Department's refusal to consider this information was not in accordance with the law and the U.S. Department of Commerce's duties under the law. During the AR period, the export of BOPET films from Fuwei Films to the United States reached 61.9 metric tons in volume and US$156,000 in value.
In addition, on December 30, 2011, the Department commenced its third routine annual review of BOPET films originated from China. In order to gain an opportunity to continue exporting to the United States, Fuwei Films, although not a mandatory respondent, will actively respond to the review to the extent permitted by law and will continue to seek the low rate which should properly apply to its exports to the United States.
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