More anti-dumping investigations were announced this week, including one covering mechanical elevator parts and pulley systems. The number of US construction projects is up significantly over the same time last year.
Commerce Seeks Duties on Elevator Parts from China and Canada
The Commerce Dept. has initiated anti-dumping duty and countervailing duty investigations of imports of certain iron mechanical transfer drive components, mostly for use in elevators and pulley systems, from China and an anti-dumping investigation of imports of the same iron mechanical transfer drive components from Canada.
Dumping occurs when a foreign company sells a product in the US at less than its fair value. For the purpose of countervailing duties investigations, countervailable subsidies are financial assistance from foreign governments that benefit the production of goods from foreign companies and are limited to specific enterprises or industries, or are contingent either upon export performance or upon the use of domestic goods over imported goods.
The petitioner for these investigations is TB Wood’s Incorporated.
US Construction Continues to Outpace 2014
New construction rose by 21,000 projects in the third quarter of 2015 compared to 2014’s third quarter. According to the BidClerk Construction Index, Q3 2015 had more than 76,000 new projects valued at over $200 billion nationally ($35 billion more compared to 2014).
Texas led the way with a 10% increase in actively bidding projects followed by:
- Florida (5%)
- Washington, D.C. 95%)
- Pennsylvania (3%)