Posted on 05/18/2016 8:44:29 AM PDT by Albion Wilde
The US has raised its import duties on Chinese steelmakers by more than fivefold after accusing them of selling their products below market prices. The taxes of 522% specifically apply to Chinese-made cold-rolled flat steel, which is used in car manufacturing, shipping containers and construction.
(Excerpt) Read more at bbc.com ...
Veritas liberabit: The truth shall set you free.
I don’t get it. Gotta be political. That means it comes from the top.
Smoot–Hawley Tariff of 1930, part one?
Not to mention their steel is most likely inferior.
I wouldn’t take rolled steel from china if they paid US to take it. Their QC is non-existent, and will lie and cheat to get you to buy their crap.
US and Canadian steel is a much better product than the rolled slag coming out of china.
I don’t know enough about it to claim that one way or the other. What I do know is that the economy is often manipulated a lot in the last few months before a major election; but I can’t guess on this one until more is known — who sponsored this move? Was it congressional Republicans trying to stay in office?
Thanks, traumer. Did not see the 11-hour time span there.
“Not to mention their steel is most likely inferior.” Much higher % of apple cores and Chinese newspapers compared to US steel.
A college friend works in the steel industry in northwest Indiana; he says they can’t compete with the Chinese steel being dumped on our market. This is a step in the right direction. Take a look at the world wide steel production numbers:
The chart on page 7 is most telling; world steel production has more than doubled since 2000, with the greatest share of that increase coming from China. With an annual production approaching ONE BILLION TONS, China produces half of the world’s steel.
Not all of that is intended for domestic Chinese consumption, or for products intended for domestic Chinese consumption.
Now, some other facts:
Alcoa is shutting down it’s processing plant in Port Lavaca Texas (where my brother in law is being laid off). In 2002, there were 22 aluminum smelters in the United States. Today, there are four, and one of those is still producing only because of a heavy subsidy from the State of New York. Where is the aluminum production? The People’s Republic of China.
Another friend works for Dow Agrosciences; they are being undercut in fertilizer production from cheap fertlizers produced in....the People’s Republic of China.
My father’s business sold industrial process regulation equipment to manufacturing plants in the midwest. His business closed because all of the factories he sold to have closed, too.
My son has a degree in Chemical Engineering, and is working quality assurance for a company that imports pharmaceutical precursors...from Asia. I wonder how long it will be before the Asian countries manufacture of the finished products put him out of a job, too.
Smoot-Hawley, be damned. If we don’t do something to maintain a manufacturing industry, we become a nation of waitresses and busboys. And tell your kids to learn both Mandarin and Spanish. They can be useful translating the orders from the bosses to the workers.
All Obama needed was a strong father figure to lead the way!!!
Is there enough steel being made in the US to keep us supplied?
I sure wouldn’t use Chinese steel on anything important ie. bridges, building frames, military , etc.
translation: Hillary’s polls in Pennsylvania and Ohio look really bad.
This hurts U.S. manufacturers that use steel as an input. A few posters say Chinese steel must be of low quality, but obviously buyers would be the best judge of that.
And falling apart in California!
Reinforces my never going to San Fran. Didn't know they were building a new bridge.
The steel in the San Francisco/Oakland Bay Bridge is Chinese. There are issues with that bridge.
Yeah big issues. Our company had to build the fix for all those bolts that cracked due to substandard manufacturing and engineering practices.
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