Skip to comments.US to impose duties on imported Chinese steel pipes
Posted on 12/30/2009 5:45:54 PM PST by TigerLikesRooster
US to impose duties on imported Chinese steel pipes
by P. Parameswaran
Wed Dec 30, 3:49 pm ET
WASHINGTON (AFP) The United States will slap penalty duties on imported Chinese steel pipes targeted for unfair subsidies, officials said Wednesday, heightening trade tensions between the two powers. The US International Trade Commission (ITC) said it had made a "final" decision Wednesday that the subsidized pipes adversely impacted the domestic steel industry, paving the way for the Commerce Department to impose countervailing duties of up to nearly 16 percent on the pipes.
This is the largest countervailing duty case filed against China, based on the value of trade, lawyers said. Beijing had "strongly" opposed the unfair subsidy claims investigated by Washington since early 2009, calling them "blind accusations."
From 2006 to 2008, imports of such Chinese pipes increased by a massive 203 percent. They were valued at 2.6 billion dollars last year.
The American Iron and Steel Institute, an industry group, said the ITC decision was "an important step" toward allowing domestic steel pipe producers "to compete on a level playing field unhindered by unfair and injurious Chinese trade practices.
(Excerpt) Read more at news.yahoo.com ...
Is this a good thing or a bad thing?
I thought so.
This isn't a blow struck for the steel industry, it is one struck against the oil industry. As production, drilling, and exploration costs go up, oil prices will, too.
The Obamites really want that $5.00/gallon gasoline, and this is a twofer for them, cause they get to stroke the unions, too.
If you are a steel pipe producer--->good
If you are a steel pipe consumer--->bad
The list, ping
Which union does this benefit?
I’m in the business. When steel prices doubled and tripled earlier this decade pipe and tubing prices did likewise. When steel lost most of those gains pipe and tubing did not. It is as high as ever.
is not the Chinese steel industry in serious trouble? Is there not megaovercapacity driving prices way down? Ae not private companies being killed by companies with some government ownership?
Then the tariff is justified
Larry Kudlow (CNBC), the uber-capitalist, practically wet his pants on this one, implying that this was an action taken in restraint of free trade. He brushed aside the fact that such decisions taken by the United States are very rare. The Chinese will scream bloody murder, but they will continue to dump their products wherever and whenever they can.
Nah. We’re supposed to roll over for China’s economic terrorism.
I didn’t know there was any pipe that DIDN’T come from china.
How long before this trade war turns into a shooting war?
usa steel companies and the benifit groups
My job as a plumbing engineer is to provide the design and specifications for commercial, state and federal building projects. My clients pay for their buildings to be constructed of materials that are in compliance with ASTM (American Society for Testing and Materials)standards. My specifications state very clearly that this is the case and the contractors bid the jobs per my specifications. Once the job is bid and the contract is awarded, it is also my job is to make sure the contractors provide these materials instead of bringing cheap SUB-STANDARD Chinese products onto the job site. I do much more than sit and watch.