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Steel becomes the latest Chinese product to face tariffs
04/01/2010 12:00
Steel becomes the latest Chinese product to face tariffs Steel grating products from China are expected to face a tariff of 10 to 16 percent, the U.S. International Trade Commission indicated on Wednesday.
All six of the commissioners agreed that Chinese producers dumped steel pipes, used for oil and gas drilling, on the American market. Importation of Chinese-made pipes jumped in 2008, Commerce Department data shows. Close to $3 billion worth of the pipes were imported, a 350 percent increase from 2006 levels.
China, not surprisingly, is not in favor of new tariffs. In November, when the Commerce Department proposed the 10 to 16 percent levy, China decried it as "abusive protectionism."
The steel tariffs are the latest in a string of antidumping measures taken by U.S. officials. A 35 percent tariff on Chinese-made tires was announced in September, and customs officials said in January that imported solar panels would be subject to a 2.5 percent levy.
Chinese solar panel maker Suntech announced last month that it would build a plant near Phoenix to ensure that it can continue selling products duty-free in the U.S. Suntech estimated in September that the U.S. market for solar panels could triple in size in 2010.
All six of the commissioners agreed that Chinese producers dumped steel pipes, used for oil and gas drilling, on the American market. Importation of Chinese-made pipes jumped in 2008, Commerce Department data shows. Close to $3 billion worth of the pipes were imported, a 350 percent increase from 2006 levels.
China, not surprisingly, is not in favor of new tariffs. In November, when the Commerce Department proposed the 10 to 16 percent levy, China decried it as "abusive protectionism."
The steel tariffs are the latest in a string of antidumping measures taken by U.S. officials. A 35 percent tariff on Chinese-made tires was announced in September, and customs officials said in January that imported solar panels would be subject to a 2.5 percent levy.
Chinese solar panel maker Suntech announced last month that it would build a plant near Phoenix to ensure that it can continue selling products duty-free in the U.S. Suntech estimated in September that the U.S. market for solar panels could triple in size in 2010.
By Steve Monfort
December 31, 2009
Source: www.nasdaq.com
December 31, 2009
Source: www.nasdaq.com
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