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U.S. Boosts Import Duties on Chinese Wind-Energy Firms

Dec 19, 2012
Source: 
(Bloomberg)

Ratcheting up trade tensions with China, the U.S. increased import duties on wind towers produced by Chengxi Shipyard Co. and CS Wind Corp. as economic talks between the two nations opened in Washington.

The Commerce Department yesterday set final punitive tariffs on the products from China andVietnam. The rates were higher than preliminary tariffs announced earlier this year to counter government subsidies and to prevent the goods from being sold in the U.S. below production costs, a practice known as dumping.

“The final results are an important step in remedying the material injury already suffered by the U.S. industry and will force the Chinese and Vietnamese producers to compete fairly,” Alan Price, an attorney with Wiley Rein LLP in Washington, said in a statement. Price represents the U.S. manufacturers that brought the case against the foreign producers, including Broadwind Energy Inc. (BWEN) of Naperville, Illinois.