Trade Panel Rules on Sweaters
The International Trade Commission ruled today that sweaters of man-made fibers from the Far East are being “dumped,” or sold at less than fair market value, in the United States.
“This hard-fought victory should provide a welcome boost for the beleaguered domestic sweater industry,” said Seth Bodner, executive director of the National Knitwear & Sportwear Assn.
The panel’s 2-1 vote means sweaters from Hong Kong, Taiwan and South Korea will be subject to duties based on a “dumping margin”--the difference between what the goods sell for in home markets vs. the United States.
For example, if a sweater sells for $20 in Taiwan and $10 in U.S. markets, the dumping margin is $10.
The ruling can be appealed to the Court of International Trade in New York.
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