US opens probe into alleged Chinese mattress dumping

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US opens probe into alleged Chinese mattress dumping
NEW YORK, Oct. 11, 2018 (Xinhua) -- The trading information is seen on electronic screens at the New York Stock Exchange in New York, the United States, on Oct. 11, 2018. U.S. stocks extended deep losses in volatile trading on Thursday. The Dow Jones Industrial Average fell 545.91 points, or 2.13 percent, to 25,052.83. The S&P 500 was down 57.31 points, or 2.06 percent, to 2,728.37. The Nasdaq Composite Index was down 92.99 points, or 1.25 percent, to 7,329.06. (Xinhua/Wang Ying/IANS)

The United States Commerce Department has opened an investigation into whether mattress imported from China are being sold in the US below fair value, according to a report by Dow Jones Newswires made available to Efe on Friday.

A group of US mattress manufacturers – including Leggett & Platt Inc., Tempur Sealy International Inc. and Serta Simmons Bedding LLC – filed a petition last month with US trade officials claiming that exporters have increased their market share by undercutting prices of domestic producers.

The US companies, which are pushing for duties on a range of mattress products, allege that Chinese products are sold in the US at prices that are between roughly 259 percent to 1,732 per cent below normal value.

The Commerce Department can impose duties on Chinese mattress imports if it finds evidence of dumping – and the International Trade Commission, an independent federal agency, agrees that dumped mattresses are injuring US industry.

The ITC is scheduled to make a preliminary determination on or before Nov. 2, Dow Jones added in its report to EFE.

Imports of mattresses from China were valued at roughly $436.5 million in 2017, according to the Commerce Department.