U.S. firms may collect trade violation penalties
U.S. Customs and Border Protection announced Friday it is accepting fiscal year 2009 claims for antidumping and countervailing duties.
A notice in the Federal Register lists all domestic producers entitled to file a claim under the Continued Dumping and Subsidy Offset Act of 2000. The law is intended to disburse anti dumping and countervailing duties collected by CBP to domestic producers injured by foreign dumping and subsidies. Claims must be submitted by July 28.
Dumping occurs when a foreign company sells goods in the U.S. market at below domestic fair-market value in order to gain market share. The government can impose penalties on such imported goods to try and equalize the price and protect local industry from unfair competition. Countervailing duties are assessed to offset the effect of subsidies by foreign governments given to exporters.
The notice is available here.