Long awaited decision for engineered floor scandal
A long-awaited decision was finally announced on Wednesday over the imported Chinese engineered flooring scandal in America.
The US government will be allowed to impose taxes upon any imported engineered wood flooring which comes from China.
There have been numerous announcements over the last few months and the culmination of the trial is likely to come as a relief to many who have been awaiting the final decision for over a year.
Although the US Commerce Department has already announced what percentage the taxes would be, they were not able to start the process.
Now the United States International Trade Commission (USITC) has given the Commerce Department the freedom to apply the new taxes.
The case has struck a chord with many, not only those within the flooring industry, who feel that US manufacturers should not be disadvantaged in their own country.
Chinese engineered flooring imports made up an estimated 40 percent of all engineered floors bought during 2010.
Unfortunately financial exports are warning that it is likely to harm trade connections between the US and China, which could be detrimental for the prospects of global economic recovery.