December 30, 2009

TRADE WAR: USA Imposes Countervailing Duties on Chinese Steel Pipe

The quasi-independent USA federal International Trade Commission voted unanimously today to impose countervailing duties on imports of Chinese oil country tubular goods. Although Chinese imports amount to less than 25% of America's consumption of the goods in terms of value and under 1/3 overall, the ITC ruling means that the Obama administration believes domestic industry is threatened by Chinese imports. The original petitioners were US manufacturers and the United Steelworkers union. The duties are intended to protect 5,819 jobs in 8 states including political swing state Ohio....

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