This Is Probably Not The Smartest Thing To Do To A Country That We Push Our Dollars And Debt On!

Posted By on December 30, 2009

U.S. Slaps New Duties On Chinese Steel

By Alan Rappeport in Washington

Published: December 30 2009

The US will impose tough new duties on Chinese steel piping imports, raising tensions with its biggest trading partner and emerging geopolitical rival.

With Chinese piping imports worth $2.8bn in 2008, the case is the biggest against China brought before the International Trade Commission, a US trade body.

It follows other US actions to counter a flood of goods that it claims China is exporting at below market prices.

The ITC’s ruling will slap Chinese companies with additional taxes ranging from 10 per cent to 16 per cent, and backs an earlier claim from the commerce department that argued that the US steel industry was being harmed by Chinese dumping. The US government has been under intense pressure to protect domestic industries to stem the flow of job losses.

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