What country is magnets imported from?

Answer 1

Magnum Magnetics¡¯ trade case against Taiwan and the People¡¯s Republic of China ended successfully last Friday, when the U.S. International Trade Commission made a final determination that raw flexible magnets imported from the two countries are threatening the domestic industry with material injury. Marietta-based Magnum Magnetics Corporation filed its case last September as the largest domestic manufacturer of raw flexible magnets, alleging that competing exports from China and Taiwan are being sold in the U.S. at less than fair value, or dumped, and that the Chinese government is unfairly subsidizing the manufacture and exportation of raw flexible magnets in its country. The U.S. Department of Commerce made final dumping and subsidy determinations in the investigation in July, when it issued steep preliminary duty orders for raw flexible magnets imported from the two countries. ¡°Companies from China and Taiwan are unfairly pricing and selling refrigerator magnets in the United States,¡± David Spooner, assistant secretary for Import Administration, said in July. ¡°That unfair competition is further magnified by government subsidies that Chinese exporters receive¡­distorting global trade flows and forcing American manufacturers to compete in a global market that is weighted against them,¡± Spooner said. Last Friday¡¯s determination on material injury by the International Trade Commission means the Commerce Department will now issue final antidumping duty orders for all raw flexible magnets imported from both countries, and final countervailing duty orders for all raw flexible magnets imported from China. A Commerce Department spokesman said on Monday that final duty orders will be issued by September 2, to be collected by U.S. Customs, and that they will match the steep preliminary duty orders set by the department in July. All raw flexible magnets imported from Taiwan now face a final antidumping duty of 31.2% to bring them up to fair value. Three companies in Taiwan that were mandatory respondents in the Commerce Department investigation and did not cooperate face a higher antidumping duty of 38.03%. All raw flexible magnets imported from China now face a final antidumping duty of 185.28% to bring them up to fair value, except for one company that qualified for a separate lesser duty of 105%. In addition, all raw flexible magnets imported from China now face a countervailing duty order of 109.95% as well to offset documented subsidies for the manufacture and export of raw flexible magnets in China. Raw flexible magnets are generally thin, polymer-bonded magnets characterized by their flexibility and ease of machinability. They are used for a broad range of domestic, commercial, and industrial applications, including refrigerator magnets.