U.S. Opens Probe into Alleged Chinese Mattress Dumping

Date : 10/12/2018 @ 1:00PM
Source : Dow Jones News
Stock : Tempur Sealy International, Inc. (TPX)
Quote : 49.1  0.57 (1.17%) @ 4:02PM

U.S. Opens Probe into Alleged Chinese Mattress Dumping

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By Bowdeya Tweh 

The Commerce Department has opened an investigation into whether mattress imported from China are being sold in the U.S. below fair value.

A group of U.S. mattress manufacturers -- including Leggett & Platt Inc., Tempur Sealy International Inc. and Serta Simmons Bedding LLC -- filed a petition last month with U.S. trade officials claiming that exporters have increased their market share by undercutting prices of domestic producers. The U.S. companies, which are pushing for duties on a range of mattress products, allege that Chinese products are sold in the U.S. at prices that are between roughly 259% to 1,732% below normal value.

The Commerce Dept. 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 U.S. industry. The ITC is scheduled to make a preliminary determination on or before Nov. 2.

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

Write to Bowdeya Tweh at Bowdeya.Tweh@wsj.com

 

(END) Dow Jones Newswires

October 12, 2018 12:45 ET (16:45 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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