FOND DU LAC, Wis. - December 29, 2004 - The U.S. Department of Commerce yesterday lowered the dumping margin for those outboard engines being imported from Japan from 22.52 percent to 18.98 percent, making a final determination that Japanese producers of outboard engines engaged in dumping in the U.S. market.
As a result, the cash deposit or bond required to be paid on all outboard engines imported from Japan has also been lowered.
The bond was lowered, in part, because of a recent decision to exclude certain imported powerheads from an investigation launched in January when Mercury Marine filed a petition claiming Japanese engine manufacturers were dumping their product in the U.S., the engine manufacturer said in a statement yesterday.
Importers who have paid deposits at the higher preliminary duty will receive the difference between that and the new duty. The deposits still being collected and those already collected will become payable as duties to the extent determined in a later Department of Commerce proceeding, according to Mercury.
Those bonds will be released and deposits refunded if the International Trade Commission rules that U.S. outboard engine manufacturers were not materially injured by the dumping. The ITC decision on injury is scheduled to be announced Jan. 26, Mercury said.
However, if the ITC determines that injury has occurred, a DOC order would remove importers' option of submitting bonds and cash deposits would then be required, according to Mercury.