U.S. opens anti-dumping probe on Chinese mattresses after complaints

0
U.S. opens anti-dumping probe on Chinese mattresses after complaintsU.S. opens anti-dumping probe on Chinese mattresses after complaints

WASHINGTON (Reuters) – The United States is investigating alleged dumping of China-made mattresses after complaints from several U.S. manufacturers, including Leggett & Platt Inc (N:), Tempur Sealy International Inc (N:) and others, the Department of Commerce said on Friday.

Shares of Tempur Sealy were up nearly 1.5 percent in late morning trade following the Commerce statement, while shares of Leggett & Platt up less than 1 percent.

Other privately held companies – Corsicana Mattress Co, Elite Comfort Solutions, Future Foam Inc, FXI Inc, Innocor Inc, Kolcraft Enterprises Inc and Serta Simmons Bedding LLC – also signed the petition asking Commerce to investigate, the department said.

Mattresses from China were estimated to be worth about $436.5 million in 2017, according to the department.

It said the U.S. International Trade Commission (ITC) would make its initial decision by Nov. 2, followed by the Commerce Department by Feb. 27.

A final decision is scheduled for May 13, but could be later, it added.

If the department determines that China is selling mattresses in the United States at less than fair value, and is harming U.S. sellers, it would then impose duties, it said in its statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.