April 12, 2010
Trade War: China Imposes Duties on US, Russian Steel
According to a Xinhua via Reuters news report China will impose anti-dumping and countervailing duties up to 64.8% and 44.6% respectively on imports of grain-oriented silicon or electrical steel from USA and Russia. The American firms AK Steel and Allegheny Ludlum Corp., will get reduced extra duties ranging from 7.8% to 19.9% as they responded to Beijing's inquiry.
The Chinese Ministry of Commerce has not publicly announced the rulings yet. The investigation was brought by steel majors Baosteel and Wuhan Iron & Steel in June 2009 and focused in particular on incentives and subsidies given by the state of Pennsylvania.
The Chinese Ministry of Commerce has not publicly announced the rulings yet. The investigation was brought by steel majors Baosteel and Wuhan Iron & Steel in June 2009 and focused in particular on incentives and subsidies given by the state of Pennsylvania.
Meanwhile China revealed today that March trade data revealed a trade deficit of over $7 billion (US dollars), China's first monthly trade deficit since May 2004....
Labels: foreign relations, foreign trade, free trade
# posted by Sinomania! : 4/12/2010 03:36:00 PM
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