Bicycle producers withdraw safeguard petition filed last week with ITC

Two U.S. bicycle producers have decided to withdraw a safeguard petition filed last week with the International Trade Commission. The Oct. 18 petition targeted Asian countries, particularly China and Taiwan, for importing significant amounts of product into the U.S. The Bicycle Corporation of America and Detroit Bikes sought global relief for what they alleged was serious injury to the “mass-market” bicycle segment, which includes bikes used for light recreational use. The companies entered into a “confidential settlement agreement” earlier this...