Countervailing duties imposed in April by the Commerce Department on Chinese plywood producers were increased to a range of 22.7 percent—194.62 percent, compared with the original range of 9.89 percent—111.09 percent.
The increase comes after the Commerce Department discovered new Chinese subsidies for plywood construction materials urea and formaldehyde, as well as new exporter-importer credits. The countervailing duties were initially set in April after a preliminary investigation determined China was causing harm to the United States plywood industry by dumping subsidized products into the U.S. at less than fair market value.
The majority of Chinese firms will pay the 22.7 percent rate, while Shandong Dongfang Bayley Wood Co. Ltd. and companies that did not respond to the Commerce Department’s inquiry will pay the 194.62 percent rate.
