US hits China steel pipe with 700% duty

04/06/2008 12:00 - 862 Views

The US Commerce Department has set a combined import duty of around 700 percent on major Chinese steel pipe producer.

The Department says it's taking action against Shuangjie Group in order to offset unfair pricing practices. That's in addition to an anti-dumping duty of nearly 86 percent. But Shuangjie may not ever need to pay up.

The duties will only be considered valid and necessary if the US International Trade Commission rules that Chinese steel pipe imports are in fact hurting, or at least threatening to hurt, US producers.

China says it has moved to cut export tax rebates on steel products. China also denies claims that it gives subsidies to domestic steel exports.

Editor:Liu Fang

06-01-2008 15:41

Source: CCTV.com