Senco Gets U.S. to Impose 300% Duties On Chinese Staples
CINCINNATI – Kyocera Senco Industrial Tools, Inc., the nation’s largest staple manufacturer, reports its petition last year to the U.S. International Trade Commission was successful.
The ITC voted 5-0 to affirming the U.S. industry has been injured by unfairly traded collated steel staple imports from China. With its vote, the U.S. Department of Commerce can issue formal antidumping and countervailing duty orders.
Senco originally petitioned the Commerce Department and the ITC to investigate certain collated staple imports from China in July 2019, arguing the industrial-style staples were being sold at below the cost of production. In May 2020, after investigations supported Senco’s case, the Department of Commerce announced it would impose combined final antidumping and countervailing duties of 97.93%-305.19% percent on all imports of medium and heavy collated steel staples from China. The latest ITC vote finalizes the cases.
"We welcome today's final vote and commend the ITC and Department of Commerce for their hard work on this case," said Cliff Mentrup, CEO of Senco. "Chinese producers have been defying the rules of international trade law – to the detriment of U.S. producers – for far too long. Today's decision sends a strong message that foreign governments and producers engaging in these practices will be held accountable. This is good news for our industry, for our business, our workers, and their families."
The Department of Commerce determined that producers and/or exporters from China have sold collated steel staples at less than fair value in the United States at rates ranging from 96.15% to 122.55%. In addition, Commerce determined that producers and/or exporters from China received countervailable subsidies at rates ranging from 12.32% to 192.64%.
In 2018, U.S. imports of certain collated staples from China were valued at an estimated $88.8 million, according to the Commerce Department.
"We can compete on a level playing field," Mentrup continued. "Thanks to the support of Commerce and the ITC, it looks like we are going to get the chance to do that again. We are very happy about that."
Kyocera Senco Industrial Tools was formed in August 2017 when Kyocera Corporation (NYSE:KYO) (TOKYO:6971) acquired Senco Holdings, Inc., a leader in creating fasteners and power fastening tools for residential, commercial, manufacturing and construction applications. Originally established in 1948, Senco is known for product quality and a diverse line, which includes pneumatic and electric nailers, staplers, screw systems and compressors, as well as nails, staples, screws and specialty fasteners. Kyocera Senco’s manufacturing and marketing are concentrated in the U.S. and Europe, with products sold in more than 40 countries worldwide.