March 20, 2015 | Industry Insights

Anti-Dumping Penalties Dig into Revenue

Share This:
Featured Image

When exporters undercut pricing on their goods to gain share in the marketplace, they put importers’ revenue in jeopardy. Anti-dumping laws in many countries around the world are enforced with harsh penalties, and importers have a major responsibility to ensure it isn’t happening.

Currently there are multiple uproars over exporters that are using unfair pricing tactics to increase the attractiveness of their products. For example, in February Felman Production filed an anti-dumping petition with the U.S. Department of Commerce and the International Trade Commission accusing an Australian metallurgical company of sending large and increasing volumes of low-priced siliconmanganese to the U.S., dropping its prices sharply in recent years. Preliminary anti-dumping duties could be assessed against Australian imports within six months, and anti-dumping orders are already in place against several other exporters of the product.

But Australia isn’t just on the exporting end of such controversies. Its anti-dumping commission is running an accelerated review applicable to aluminum road wheels from China that are undercutting the Australian ARW industry. Such cases span industries and nations and can lead to long-tail, sometimes devastating, financial obligations for importers.

Add to that the fact that importers, at least in the U.S., must certify that they will not receive any reimbursement for penalties they incur due to anti-dumping duties. If importers don’t file such certifications in a timely manner, they face double duties as punishment.

Since there aren’t insurance or other contractual means to protect against anti-dumping duties, importers are urged to know their markets well and maintain fair pricing and clear records. Complaints of anti-dumping may come long after the product has been sold, and determination of final duties, which can far exceed the paid estimated duty amount, takes more than three years on average, according to the Government Accountability Office.

In the course of buying your customs bonds, it is important to discuss your exposure to anti-dumping duties. At Roanoke Trade, we keep abreast of problems the export-import industry faces and can help you ascertain hazards you might face. Facilitating dumping can be a business-destroying action, even if you have done it unwittingly. Knowing the parties you are dealing with and researching fair-market prices will give you a leg up.

We invite you to learn more about us, our experienced talent in this highly specialized area, our creative solutions, and the value we will bring to you and your clients. Please contact us at 1-800-ROANOKE (800-762-6653).

 

 

Share This:

Related


Thank You to Karen Groff

We have important news to share with you. Karen Groff, President of Roanoke Insurance Group, has decided to leave the organization. Although our hearts are heavy with this news, we respect her decision and wish her all the best in her future endeavors. Karen played an integral role in Roanoke’s success over the past 30 years and solidified “The Roanoke Way” during her tenure as President. In her own words, Karen shares: “I will always treasure my time spent with Roanoke colleagues, clients and partners. The strong engagement and sense of community shared in this industry have been a constant inspiration […]

Industry Insights

We are pleased to announce Karen Rzeszutko has been named President of Roanoke Insurance Group, effective August 1, 2023!

Karen has been a part of Roanoke for nearly 20 years. During this time, she has shown exceptional leadership skills and technical expertise in multiple customer-facing positions, such as Head of Marine & Liability Underwriting and Head of Liability Claims. Her most recent role was SVP, Chief Underwriting Officer, Marine at Munich Re Specialty Group N.A. where she was responsible for leading our inland, ocean and cargo liability underwriting teams. One of her notable contributions was developing essential insurance policies for our clients in the logistics sector. She also demonstrated outstanding dedication in promptly and favorably settling complex liability claims. […]

Industry Insights

New Report by BSI Global Intelligence Outlines Leading Causes of Increased Theft

Increased Prices of Fuel, Agricultural Products, and Other Goods are Leading to Increased Theft In partnership with Roanoke, BSI’s Global Intelligence Analysts have provided a high-level outlook on the top supply chain risks expected in upcoming months, based on data and trends from the first three quarters of 2022. BSI’s data shows that thieves globally are increasingly targeting agricultural products, employee belongings, and automotive parts. This is partially due to increased food insecurity worldwide, and inflation driving up the prices of goods like agricultural products and fuel. The combination of these two factors makes these goods more lucrative to steal. […]

Industry Insights

Roanoke is the leading provider of insurance and surety solutions for transportation and logistics providers. In fact, we are recognized as the most reliable source for U.S. customs bonds.

Contact

If you have any questions or need help, feel free to contact with our team.

800-762-6653
US Flag

US CORPORATE HEADQUARTERS

1501 E. Woodfield Road

Suite 400W

Schaumburg, IL 60173


Canada Flag

CANADA CORPORATE HEADQUARTERS

390 Bay Street

Munich Re Centre, 22nd Floor

Toronto, ON M5H 2Y2

Solutions that Go the Distance.

© 2024 Roanoke Insurance Group Inc.

Better Business Bureau logoCoverholder at Lloyd's logo