Recent announcement of countervailing duties (CVD) on PET imports in the US and European Union (EU), a positive for PET producers in the West

1. The USA:

On August 10, 2015, the US Department of Commerce (Department) announced its preliminary determinations in the CVD investigations on imports of PET from China, India and Oman.Department announced a CVD in range of 4.27% to 18.88% on PET imports from China into USA and 5.5% to 115.04% on imports of PET from India into USA. Investigation was carried out on Oman also; however no CVD was imposed on Oman. This is applicable with immediate effect and runs for five years. In addition to CVD as above, USA is currently doing Anti Dumping Duties (ADD) investigations also on China, India, Oman and Canada with expected announcement in 4Q15.Import statistics for last three years: