September 10, 2009

Trade War: USA Imposes Extra Tariffs on Chinese Steel Goods

The US Commerce Department slapped imports of Chinese oil country tubular goods - steel pipes used in the oil industry - with countervailing duties over 30% until a final rule is made on a dispute reported on previously here.

Meanwhile the "Summer Davos" meeting of the World Economic Forum has opened in Dalian, China, with a round of America bashing. Bank of China President Zhu Min criticized the attitude on Wall Street as over-confident and as though the "crisis never happened." Morgan Stanley Asia head Stephen Roach believes there are good odds the USA may lead the world back into recession....

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