Washington to hit China with tariffs on $2.8B in annual steel pipe exports

[babylonsister]

Washington to hit China with tariffs on $2.8B in annual steel pipe exports
By Ian Swanson - 12/30/09 03:45 PM ET


The U.S. will hit China with tariffs on $2.8 billion in annual steel pipe exports in the wake of a decision Wednesday by the U.S. International Trade Commission.

The new tariffs on oil country tubular goods, which are steel pipes used in oil and gas drilling equipment, would open another serious trade fight between the U.S. and China.

The ITC in a 6-0 vote ruled that the Chinese steel imports were injuring the U.S. industry. The Commerce Department already had determined that the Chinese steel products are subsidized by China’s government.

Chinese imports in 2008 took up about 32.7 percent of the U.S. market by quantity and 24 percent by value, according to the ITC.

“We are fed up with China’s constant cheating and false claims of U.S. protectionism, when it is China that practices illegal state subsidization and dumping that seeks to destroy good jobs and fair competition under WTO standards their leaders agreed to abide,” United Steelworkers President Leo Gerard said in a statement responding to the decision.

Gerard’s union was one of eight petitioners asking the government for relief. Several steel companies also brought the case, including U.S. Steel in Pittsburgh and Maverick Tube Corporation in Houston.

more...

http://thehill.com/homenews/administration/73957-us-to-hit-china-with-tariffs-on-28b-in-annual-steel-pipe-exports

[yourout]

1. This needs to happen a lot more often.

[babylonsister]

2. Hopefully this is just a start. nt