Post by graybeard on Dec 30, 2009 18:00:58 GMT -6
Here's a source of the news Cactus Jack tacked on in a prior thread:
U.S. to Impose Tariffs on Chinese Pipe After Ruling (Update4)
By Daniel Whitten
Dec. 30 (Bloomberg) -- The U.S. will impose duties on $2.8 billion in steel-pipe imports from China after saying subsidies on the products may harm American steelmakers, a move that threatens to escalate trade tensions between the two countries.
The U.S. International Trade Commission voted 6-0 today in Washington. The Commerce Department set duties in November ranging from 10.4 percent to 15.8 percent, subject to the ITC’s ruling, on Chinese pipes used in oil wells. A preliminary ruling by the ITC in May led Chinese producers to halt exports to the U.S., state-owned Tianjin Pipe Group Corp. has said.
The case is the largest so-called countervailing duty complaint filed against Chinese products, and was brought by groups and companies including U.S. Steel Corp. Tariffs have been a point of tension between the two nations since President Barack Obama imposed duties in September on Chinese tire imports. Obama, during a visit to Beijing Nov. 17, pledged along with President Hu Jintao to work on easing trade frictions.
“The steel industry is a canary in the coal mine of the U.S.-China trade relations,” Michelle Applebaum, who runs a Chicago-based equity research company that advises investors on the industry, said in an interview. She owns shares in companies including Nucor Corp. and Reliance Steel & Aluminum Co.
The Commerce Department will decide in April if Chinese companies are also dumping products on the U.S. market at prices below their value, a Federal Register notice said. That could result in additional tariffs on those companies...
U.S. to Impose Tariffs on Chinese Pipe After Ruling (Update4)
By Daniel Whitten
Dec. 30 (Bloomberg) -- The U.S. will impose duties on $2.8 billion in steel-pipe imports from China after saying subsidies on the products may harm American steelmakers, a move that threatens to escalate trade tensions between the two countries.
The U.S. International Trade Commission voted 6-0 today in Washington. The Commerce Department set duties in November ranging from 10.4 percent to 15.8 percent, subject to the ITC’s ruling, on Chinese pipes used in oil wells. A preliminary ruling by the ITC in May led Chinese producers to halt exports to the U.S., state-owned Tianjin Pipe Group Corp. has said.
The case is the largest so-called countervailing duty complaint filed against Chinese products, and was brought by groups and companies including U.S. Steel Corp. Tariffs have been a point of tension between the two nations since President Barack Obama imposed duties in September on Chinese tire imports. Obama, during a visit to Beijing Nov. 17, pledged along with President Hu Jintao to work on easing trade frictions.
“The steel industry is a canary in the coal mine of the U.S.-China trade relations,” Michelle Applebaum, who runs a Chicago-based equity research company that advises investors on the industry, said in an interview. She owns shares in companies including Nucor Corp. and Reliance Steel & Aluminum Co.
The Commerce Department will decide in April if Chinese companies are also dumping products on the U.S. market at prices below their value, a Federal Register notice said. That could result in additional tariffs on those companies...