U.S. imposes trade sanctions on China, South Korea and Indonesia in paper dispute

[Omaha Steve]

http://www.signonsandiego.com/news/business/20070530-1446-tradepenalties.html

By Martin Crutsinger
ASSOCIATED PRESS

2:46 p.m. May 30, 2007

WASHINGTON – The Bush administration is imposing further trade sanctions against China, South Korea and Indonesia in a dispute involving glossy paper.

The decision, announceed Wednesday by Commerce Secretary Carlos Gutierrez, came a week after U.S. and Chinese officials met for a second round of high-level talks aimed at lowering trade tensions between the two nations.

“This administration continues to aggressively and transparently enforce our trade laws to ensure a level playing field for American manufacturers, workers and farmer,” Gutierrez said in a statement announcing the decision.

In the new ruling, the government determined that imports from the three countries of glossy paper – used in art books, textbooks and high-end magazines – were being sold in the United States at less than fair value, a process known as dumping.

The dumping penalties will be collected immediately although they will not become final until this fall after further investigations are conducted.

The preliminary dumping penalty for the paper products from China ranged from 23.19 percent to 99.65 percent. The dumping penalty imposed on imports of glossy paper from Indonesia was 10.85 percent while the penalty on South Korean imports ranged as high as 30.86 percent.

FULL story at link.

[Buzz Clik]

1. Been a bad stretch for China. Some gross additives to wheat gluten kill a few dozen dogs. Now this.