Jump to content
House Price Crash Forum

Us Raise Steel Tax 522%


rollover
 Share

Recommended Posts

US slaps China steel imports with five-fold tax increase

The US has raised its import duties on Chinese steelmakers by more than five-fold after accusing them of selling their products below market prices. The taxes specifically apply to Chinese-made cold-rolled flat steel, which is used in car manufacturing, shipping containers and construction. The US Commerce Department ruling comes amid heightened trade tensions between the two sides over several products, including chicken parts. US and European steel producers claim China is distorting the global market and undercutting them by dumping its excess supply abroad.

It is an election year, and US presidential candidates have been ramping up the rhetoric on what they say are unfair trade practices by China. The US steel industry claims that around 12,000 workers have been laid off in the past year because of unfair Chinese competition. China claims the weak economy is more responsible for the industry's problems.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.