Commerce: Chinese ‘twist ties’ benefit from undervalued renminbi in CVD case

The Commerce Department on Tuesday issued preliminary countervailing duties on Chinese twist ties, claiming Chinese producers benefit from an undervalued renminbi. The case represents the second time Commerce has used a rule it implemented in February allowing it to treat currency undervaluation as a countervailable subsidy, and the first involving China. Earlier this month, Commerce cited currency undervaluation in its issuance of preliminary CVDs on Vietnamese tires. Commerce launched the CVD investigation into twist ties on July 16 based on...