May 25, 2017 / 3:25 PM / a year ago

U.S. finds likely harm from China, Vietnam tool chest imports

WASHINGTON (Reuters) - The International Trade Commission said on Thursday it had made a preliminary finding that imports of tool chests and cabinets from China and Vietnam were harming U.S. producers, allowing a probe into possible dumping and subsidies to continue.

The case, announced by the Commerce Department on May 2, follows a petition from Missouri-based Waterloo Industries Inc, a subsidiary of Fortune Brands and Home Security Inc (FBHS.N). In 2016, imports of tool chests from China and Vietnam totaled $990 million and $77 million, respectively, department data show.

The department said it expected to make a preliminary anti-dumping decision by July and a preliminary countervailing duty decision, or finding of subsidization, by September.

If it finds the products are being dumped and/or subsidized, it will set duties that would go into place if the ITC subsequently affirms its finding that U.S. producer are being harmed.

Dumping margins on the products from China are 159.99 percent and from Vietnam 21.85 percent, the Commerce Department said.

Tool chests typically have bodies made of carbon, alloy, and/or stainless steel and may include drawers, trim, or other components made of other metal or non-metal materials, it said.

Reporting by Tim Ahmann; Editing by Eric Walsh and Grant McCool

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