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U.S. and China Quarrel Over Beds
Wednesday, July 07, 2004
ATLANTA -- The bedroom furniture industry is losing sleep over a bitter trade dispute between the United States and China.
Some American manufacturers are accusing their Chinese counterparts of “dumping” — gaining market share in another country by flooding it with goods at artificially low prices. The U.S. furniture makers say the super cheap Chinese beds and bureaus are hurting local businesses.
A preliminary federal investigation determined that many Chinese companies are indeed exporting wooden bedroom furniture to the United States below fair market value.
Last month, the U.S. Department of Commerce (search) responded by imposing import duties on the Chinese manufacturers. For now, most Chinese plants face duty rates of less than 11 percent, but the final numbers are still pending. Industry analysts predict that they could be substantial enough to reverse a 5-year trend of lower prices on bedroom furniture.
The threat of higher prices has many high-volume retailers siding with the Chinese. The Commerce Department investigation is likely to take three or four more months, with a final decision on duties and how much more consumers may pay expected just in time for Christmas.
http://www.foxnews.c...,124919,00.html
Wednesday, July 07, 2004
ATLANTA -- The bedroom furniture industry is losing sleep over a bitter trade dispute between the United States and China.
Some American manufacturers are accusing their Chinese counterparts of “dumping” — gaining market share in another country by flooding it with goods at artificially low prices. The U.S. furniture makers say the super cheap Chinese beds and bureaus are hurting local businesses.
A preliminary federal investigation determined that many Chinese companies are indeed exporting wooden bedroom furniture to the United States below fair market value.
Last month, the U.S. Department of Commerce (search) responded by imposing import duties on the Chinese manufacturers. For now, most Chinese plants face duty rates of less than 11 percent, but the final numbers are still pending. Industry analysts predict that they could be substantial enough to reverse a 5-year trend of lower prices on bedroom furniture.
The threat of higher prices has many high-volume retailers siding with the Chinese. The Commerce Department investigation is likely to take three or four more months, with a final decision on duties and how much more consumers may pay expected just in time for Christmas.
http://www.foxnews.c...,124919,00.html
When America isn't busy isolating itself from the rest of the world with its policy on important issues such as weapons of mass destructino and terrorism, it likes to kick back and unwind by isolating itself from other countries for reasons far lamer than you could imagine on your own.
MultiQuote
Posted 09 July 2004 - 10:04 AM