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U.S. to impose penalty tax on paper from 3 Asian nations
POSTED: 10:15 a.m. EDT, May 31,2007

The U.S. Department of Commerce on Wednesday announced its affirmative preliminary decision to impose penalty tariffs on coated free sheet paper from China, Indonesia, and South Korea.

The ministry said in a statement that it has preliminarily determined that Chinese, Indonesian, and South Korean producers/exporters have sold glossy paper in the United States at 23.19 to 99.65 percent, 10.85 percent, and 0.00 to 30.86 percent less than fair value, respectively.

Glossy paper is used in art books, textbooks, annual reports, and prestige magazines and catalogues.

"This administration continues to aggressively and transparently enforce our trade laws to ensure a level playing field for American manufacturers, workers and farmers," said Commerce Secretary Carlos M. Gutierrez.

As a result of these preliminary determinations, the U.S. government will instruct U.S. Customs and Border Protection to suspend liquidation of entries of subject merchandise and to collect a cash deposit or bond based on the preliminary rates.

The Commerce Department is scheduled to issue its final determinations in mid-August, but this deadline may be extended, said the statement.

From:xinhua
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