The U.S. Department of Commerce has issued antidumping duty orders on prestressed concrete steel wire strand (PC strand) from eight countries: Argentina, Colombia, Egypt, the Netherlands, Saudi Arabia, Taiwan, Turkey, and the UAE. This action is based on findings that these imported products were sold in the U.S. at less-than-fair-value (LTFV) and caused material injury to industries in the U.S. Antidumping duties will be collected on these imports, effective from September 30, 2020. The U.S. Customs and Border Protection will enforce these duties and require cash deposits for estimated duties to protect U.S. industries from unfair global competition.
Simple Explanation
The U.S. government decided to make companies from eight countries pay extra money when selling a specific type of wire to the U.S. because they were selling it too cheaply and hurting American businesses. This extra money is like a fine to make things fair for everyone.