FOND DU LAC, Wis. - August 6, 2004 - The U.S. Department of Commerce today ordered a 22.52-percent import bond be posted for each Japanese engine brought into the U.S., and issued a preliminary determination of "dumping" by Japanese outboard engine manufacturers, according to a press release this afternoon from Mercury Marine.
The DOC's order will take effect upon its filing and publication in the Federal Register, which is expected to take place in about a week, according to Mercury Marine's press release.
The DOC will make a final determination on the duties imposed in the coming months. After that, the U.S. International Trade Commission will announce its final findings regarding the extent to which pricing practices by Japanese companies harmed Mercury and other companies that manufacture outboard engines in the U.S., Mercury Marine said in its release.
The DOC's ruling follows an investigation launched after Mercury Marine submitted a petition to the U.S. government Jan. 8 asking for an investigation into the pricing strategies of Japanese engine manufacturers and alleging that the foreign engine builders were "dumping" product into the U.S. market.