October 30, 2009
TRADE WAR: US ITC Sides with Steelworkers Union on Chinese Seamless Pipe
The quasi-independent US International Trade Commission (ITC) sided unanimously today with US Steel Corp. (NYSE: X) and co-petitioner United Steel Workers union to allow the US Commerce Department to continue its work toward determining anti-dumping and countervailing duties on imports of Chinese "seamless SLP pipe". Determination of anti-dumping duties must be reported by February 23, 2010.
If duties are imposed it will show Beijing that the Obama administration remains Janus-faced in its trade relations particulary as this news comes a day after important advances were made by the Commerce Department in China.
The pipe is primarily used for pipelines by the oil and gas industries. The ITC says Chinese manufacturers are subsidized and claim US producers are under threat from the imports. American companies imported $412 million worth of the pipes last year. How many America jobs are stake? The number is withheld by the trade commission as "proprietary information."
If duties are imposed it will show Beijing that the Obama administration remains Janus-faced in its trade relations particulary as this news comes a day after important advances were made by the Commerce Department in China.
The pipe is primarily used for pipelines by the oil and gas industries. The ITC says Chinese manufacturers are subsidized and claim US producers are under threat from the imports. American companies imported $412 million worth of the pipes last year. How many America jobs are stake? The number is withheld by the trade commission as "proprietary information."
Labels: foreign trade, free trade, imports, steel
# posted by Sinomania! : 10/30/2009 04:12:00 PM
Subscribe to Posts [Atom]
