U.S. slaps 80% retroactive duty on Chinese plywood imports

The U.S. Department of Commerce has imposed steep preliminary countervailing duties on hardwood and decorative plywood imports from China, Indonesia and Vietnam, siding with domestic producers in one of the most consequential trade cases the sector has seen in years. Chinese plywood will face a uniform preliminary duty of 81.34%, while Indonesian products will be subject to rates ranging from 2.40% to 128.66%, and Vietnamese shipments to duties between 4.37% and 26.75%. In a significant escalation, Commerce also found that “critical circumstances” exist for imports from China. As a result, U.S. Customs ...