CF Industries Holdings, Inc. Announces Petitions Seeking Remedies for Unfairly Traded Imports of UAN from Russia and Trinidad and Tobago
CF Industries Holdings, Inc. (NYSE: CF) has filed petitions with the U.S. Department of Commerce and the U.S. International Trade Commission for antidumping and countervailing duty investigations on urea ammonium nitrate solutions (UAN) imports from Russia and Trinidad and Tobago. This action aims to address the harm caused by dumped and subsidized UAN imports to the domestic industry. If investigations confirm unfair practices, duties may be imposed to protect U.S. producers and ensure a fair competitive landscape for American farmers.
- Initiation of investigations could lead to protective duties, bolstering domestic UAN prices.
- Potential restoration of fairness in the competitive environment for UAN producers in the U.S.
- Ongoing dependence on government interventions could indicate weakness in the domestic UAN market.
- Risk that investigations may not result in favorable outcomes for CF Industries.
CF Industries Holdings, Inc. (NYSE: CF), through certain of its production facilities, today filed petitions with the U.S. Department of Commerce (“Commerce”) and the U.S. International Trade Commission (“ITC”) requesting the initiation of antidumping and countervailing duty investigations on imports of urea ammonium nitrate solutions (“UAN”) from Russia and Trinidad and Tobago (“Trinidad”).
CF Industries, which is the largest producer of UAN in the United States, requested the investigations due to the harm the domestic UAN industry has experienced from dumped and unfairly subsidized UAN imports from Russia and Trinidad. CF Industries filed its petitions under United States antidumping and countervailing duty laws, which authorize Commerce to level the playing field for domestic industries injured by foreign imports that are dumped and unfairly subsidized. If Commerce and the ITC make affirmative determinations, then Commerce can impose duties equal to the level of dumping and unfair subsidies.
“For too long, UAN producers in the United States, who are among the most efficient in the world, have competed on an uneven playing field due to dumped and unfairly subsidized imports from Russia and Trinidad,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “The duties we are seeking will restore fairness to our highly competitive industry and help ensure that American UAN producers remain a reliable source of fertilizers for American farmers for years to come.”
In the coming weeks, the U.S. Department of Commerce will decide whether to initiate investigations to determine the extent of dumping and unfair subsidies associated with imports from Russia and Trinidad and Tobago; and the U.S. International Trade Commission will initiate a concurrent investigation to determine whether such imports materially injure the U.S. industry. CF Industries intends to participate actively in proceedings before both agencies.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our nine manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
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FAQ
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