November 05, 2009

TRADE WAR: 438% Countervailing Duties on Imports of Chinese Wire Decking

In yet another victory for the US Steelworkers union, the Obama administration this week announced determination of countervailing duties up to 473.73% on imports of wire decking - a steel-derived product used in commercial and industrial storage rack systems - from China. The huge duties imposed by the Commerce Department are reserved for the many Chinese companies that did not submit paperwork to Commerce in a timely manner. Other Chinese exporters including named firms Dalian Huameilong Metal Products and Dalian EastFound Metal Products will face extra duties between 2.02 to 3.13 percent.....

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