Epoxy Resin: Prelim CV Rates Take Effect for 3 Countries, Not South Korea; Retroactive for Some
The Commerce Department is setting new countervailing duty cash deposit requirements for imports of epoxy resin from China (C-570-167), India (C-533-927) and Taiwan (C-583-877), after finding countervailable subsidization of producers and exporters in the four countries in the preliminary determinations of its CV duty investigations. Suspension of liquidation and cash deposit requirements will take effect Sept. 13, 2024, for entries of subject merchandise from India, South Korea and Taiwan, and will take retroactive effect for entries from China as of June 15, 2024.
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The agency issued a negative determination that epoxy resin from South Korea (C-580-920) is being subsidized in a way that would allow for the imposition of CVD, and will not suspend liquidation or impose CVD cash deposit requirements for imports from Korea at this time. The agency may still impose CVD when it issues its final determination.
Commerce is also considering the imposition of antidumping duties on epoxy resin from China, India, South Korea and Taiwan, as well as from Thailand. The preliminary determinations in those investigations are currently due Nov. 6. Commerce will address comments it received on the scope these AD/CVD investigations when it issues its preliminary AD determinations, it said.
Cash Deposits Retroactive 90 Days for All Chinese Companies
Commerce made a finding that all exporters of epoxy resin from China increased their exports to the U.S. in the months before the preliminary determination. This “critical circumstances” finding by the agency allows it to retroactively require AD cash deposits for subject merchandise from all Chinese companies 90 days before the preliminary determination, i.e., June. 15, 2024.
For all Indian and Taiwanese companies, suspension of liquidation and CVD cash deposit requirements take effect upon publication of these preliminary determinations in the Federal Register on Sept. 13.
CV Suspension of Liquidation and Cash Deposit Requirements
Commerce says it will instruct CBP to suspend liquidation for all entries of subject merchandise that are entered, or withdrawn from a warehouse, for consumption on or after the dates listed below. Cash deposits of estimated CV duties will be required as follows:
China
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Jiangsu Sanmu Group Co., Ltd. | 108.64% | 06/15/24 |
| Shandong Bluestar Dongda Chemical | 108.64% | 06/15/24 |
| All Others | 108.64% | 06/15/24 |
India
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Atul Limited | 1.55% | 09/13/24 |
| Champion Advanced Materials | 113.83% | 09/13/24 |
| All Others | 1.55% | 09/13/24 |
Taiwan
| Company | CV Rate | Sus. Liq. |
|---|---|---|
| Chang Chun Plastics Co. Ltd.; Chang Chun Petrochemical Co., Ltd.; Dairen Chemical Corporation; Jinzhou Technology Co., Ltd.; and Taiwan Prosperity Chemical Corporation. | 3.32% | 09/13/24 |
| Nan Ya Plastics Corp. | 1.32% | 09/13/24 |
| All Others | 2.33% | 09/13/24 |
(The period of investigation is 01/01/23 - 12/31/23. See Commerce's notice for more information, including the scope (unchanged), suspension of liquidation, etc. See 2404260024 for a summary of the initiation of these AD and CV duty investigations.)