ITC Votes Unanimously in Support of Domestic Staple Industry
CINCINNATI, June 23, 2020 /PRNewswire/ -- KYOCERA SENCO Industrial Tools, Inc. (Senco), the nation's largest staple manufacturer, announced today that the U.S. International Trade Commission (ITC) voted 5-0 reaffirming the U.S. industry has been injured by unfairly traded collated steel staple imports from China. With today's vote, the Department of Commerce (Commerce) will issue antidumping (AD) and countervailing duty (CVD) orders in the coming days.
Senco petitioned Commerce and the ITC to investigate certain collated staple imports from China in July 2019. This vote finalizes the cases.
"We welcome today's final vote and commend the ITC and Department of Commerce for their hard work on this case," said Cliff Mentrup, CEO of Senco. "Chinese producers have been defying the rules of international trade law – to the detriment of U.S. producers – for far too long. Today's decision sends a strong message that foreign governments and producers engaging in these practices will be held accountable. This is good news for our industry, for our business, our workers, and their families."
Last month, Commerce determined that producers and/or exporters from China have sold collated steel staples at less than fair value in the United States at rates ranging from 96.15% to 122.55%. In addition, Commerce determined that producers and/or exporters from China received countervailable subsidies at rates ranging from 12.32% to 192.64%.
In 2018, U.S. imports of certain collated staples from China were valued at an estimated $88.8 million, according to Commerce.
"We can compete on a level playing field," Mentrup continued. "Thanks to the support of Commerce and the ITC, it looks like we are going to get the chance to do that again. We are very happy about that."
About KYOCERA SENCO Industrial Tools, Inc. (SENCO)
KYOCERA SENCO Industrial Tools was formed in August 2017 when Kyocera Corporation (NYSE:KYO) (TOKYO:6971) acquired SENCO Holdings, Inc., a leader in creating fasteners and power fastening tools for residential, commercial, manufacturing and construction applications. Originally established in 1948, SENCO is renowned for its excellent product quality and diverse line, which includes pneumatic and electric nailers, staplers, screw systems and compressors, as well as nails, staples, screws and specialty fasteners. KYOCERA SENCO's manufacturing and marketing are concentrated in the U.S. and Europe, with products sold in more than 40 countries worldwide.
Contact Elizabeth Heaton, [email protected], 202-445-9858
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SOURCE KYOCERA SENCO Industrial Tools, Inc.