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Hardwoods Notified of US Trade Investigation Against Chinese Import Plywood
Hardwoods Notified of US Trade Investigation Against Chinese Import Plywood Hardwo...
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[{"type":"text","content":"\n\n\n\nHardwoods Notified of US Trade Investigation Against Chinese Import Plywood\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nHardwoods Notified of US Trade Investigation Against Chinese Import Plywood\nCanada NewsWire\nLANGLEY, BC, Nov. 21, 2016\n\n\n\nTRADING SYMBOL: Toronto Stock Exchange - HWD\n\n\n\nLANGLEY, BC, Nov. 21, 2016 / CNW/ - Hardwoods Distribution Inc. (\"Hardwoods\" or the \"Company\") today announced that on November 18, 2016 a trade petition was filed in the United States with respect to imported hardwood plywood from China (the \"Petition\").  \n\nThe action was filed by a group of U.S. manufacturers of hardwood and decorative plywood (the \"Petitioners\"). The Petition, filed with the U.S. Department of Commerce and the U.S. International Trade Commission, alleges that imports of Chinese manufactured hardwood plywood are sold in the United States at prices below cost, and are subsidized by the Government of China. The Petition claims that U.S. manufacturers of hardwood and decorative plywood have suffered material competitive injury and requests that the U.S. Government investigate whether antidumping and countervailing duties should be applied against the value of imported hardwood plywood originating from China.  \n\nThis is the second trade case initiated by the Petitioners.  The original trade case, which was filed on September 27, 2012, was dismissed on November 5, 2013 by the U.S. International Trade Commission (\"ITC\").  The Petitioners appealed the ITC's decision in the original trade case to the U.S. Court of International Trade, however that appeal was extinguished on September 19, 2016.  \n\nHardwoods sells a wide range of architectural building products to customers in North America, including hardwood plywood products.  Hardwoods strategy for the hardwood plywood product category includes selling both imported and domestically produced hardwood plywood, in order to satisfy the demand and diverse product preferences of its customers.  \n\nIn the event that trade duties were levied against Chinese h...