Steel Import Duty to hit 700% in US
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The $1.4bn US steel pipe-making industry has been "injured" by subsidized imports from China, a US commission has concluded.
The US International Trade Commission has pushed the Department of Commerce will impose duty of up to 700% on the imported goods.
This is the first time a US industry has successfully won protection from subsidized Chinese products. It is likely the first among many as America tries to regain competitive advantage over their cheaper counterparts from the far East.
The policy was changed in the face of growing anger from industrial producers who claimed they could not compete with much cheaper imports from China.
The tariffs on the imports of steel pipe will range from 99% to 701%.
The circular steel pipe affected by this judgement is used for home plumbing and sprinkler systems.
It is made by 21 producers in the US employing almost 2,500 people. Which, in the grand scheme of America, isn't that many jobs.
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Barry
Mr. Do It All
Jun 21, 2008, 4:10 PM
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