The US trade dispute with China might not have spared the kitchen sink, or even kitchen cabinets, as Washington on Thursday announced another round of tariffs.
About US$4.4 billion of wooden cabinets and vanities imported from China face additional duties because they are being dumped in the US market at less than fair value, the US Department of Commerce said.
Chinese exporters would face tariffs of 28.7 percent to 251.6 percent to level the playing field, the department said in a preliminary decision.
The imported cabinets already faced tariffs after the department on Aug. 8 determined that Chinese manufacturers received subsidies from Beijing.
The latest announcement is one in series of cases that the department has pursued against many product lines, usually at the request of US companies claiming to be hurt by imports from China or other trading partners.
However, it is separate from the broader trade dispute in which US President Donald Trump plans to impose taxes on nearly all imports from China.
Based on the dumping rates, US customs agents will begin collecting duties from importers on the cabinets.
However, the funds would be returned if the department reverses its decision or if the US International Trade Commission finds the subsidies did not harm US industry.
The cabinet case was launched in March by a trade group called the American Kitchen Cabinet Alliance and affects companies including Dalian Meisen Woodworking, Ancientree Cabinet and Rizhao Foremost Woodwork Manufacturing.
“I’d say this is a strong result for American manufacturing and American workers,” Tim Brightbill, a trade lawyer from Wiley Rein LLP in Washington, which represents the industry, said by telephone.
Additional reporting by Bloomberg
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, booked its first-ever profit from its Arizona subsidiary in the first half of this year, four years after operations began, a company financial statement showed. Wholly owned by TSMC, the Arizona unit contributed NT$4.52 billion (US$150.1 million) in net profit, compared with a loss of NT$4.34 billion a year earlier, the statement showed. The company attributed the turnaround to strong market demand and high factory utilization. The Arizona unit counts Apple Inc, Nvidia Corp and Advanced Micro Devices Inc among its major customers. The firm’s first fab in Arizona began high-volume production
VOTE OF CONFIDENCE: The Japanese company is adding Intel to an investment portfolio that includes artificial intelligence linchpins Nvidia Corp and TSMC Softbank Group Corp agreed to buy US$2 billion of Intel Corp stock, a surprise deal to shore up a struggling US name while boosting its own chip ambitions. The Japanese company, which is adding Intel to an investment portfolio that includes artificial intelligence (AI) linchpins Nvidia Corp and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), is to pay US$23 a share — a small discount to Intel’s last close. Shares of the US chipmaker, which would issue new stock to Softbank, surged more than 5 percent in after-hours trading. Softbank’s stock fell as much as 5.4 percent on Tuesday in Tokyo, its
COLLABORATION: Softbank would supply manufacturing gear to the factory, and a joint venture would make AI data center equipment, Young Liu said Hon Hai Precision Industry Co (鴻海精密) would operate a US factory owned by Softbank Group Corp, setting up what is in the running to be the first manufacturing site in the Japanese company’s US$500 billion Stargate venture with OpenAI and Oracle Corp. Softbank is acquiring Hon Hai’s electric-vehicle plant in Ohio, but the Taiwanese company would continue to run the complex after turning it into an artificial intelligence (AI) server production plant, Hon Hai chairman Young Liu (劉揚偉) said yesterday. Softbank would supply manufacturing gear to the factory, and a joint venture between the two companies would make AI data
The Taiwan Automation Intelligence and Robot Show, which is to be held from Wednesday to Saturday at the Taipei Nangang Exhibition Center, would showcase the latest in artificial intelligence (AI)-driven robotics and automation technologies, the organizer said yesterday. The event would highlight applications in smart manufacturing, as well as information and communications technology, the Taiwan Automation Intelligence and Robotics Association said. More than 1,000 companies are to display innovations in semiconductors, electromechanics, industrial automation and intelligent manufacturing, it said in a news release. Visitors can explore automated guided vehicles, 3D machine vision systems and AI-powered applications at the show, along
RSS