Thursday, December 31, 2009
WSJ's "Chinese Slapped in Steel Dispute" Rewrite: "Americans Slapped in Steel Dispute"
By Dr. Mark J. Perry
WALL STREET JOURNAL -- U.S. steelmakers won U.S. consumers who purchase products made with steel and American companies that purchase steel as an input lost a case over Chinese steel imports, as the U.S. International Trade Commission voted that the domestic industry has been damaged industries that use steel have been subsidized too generously by cheap steel from China Chinese producers.
The ruling Wednesday will result in duties of taxes on American companies and consumers of between 10% and 16% on future imports of Chinese steel pipes used to extract natural gas and oil. It is the latest in a string of trade decisions against China, the U.S.'s largest trading partner the American consumer and U.S. companies that voluntarily purchase products from China for their low cost and high quality.
On Tuesday, the U.S. imposed preliminary antidumping duties taxes on Americans who purchase steel-grate products imported from China, prompting strong reaction from the Chinese, who said it sent a "wrong, protectionist signal." Earlier this year, the Obama administration imposed tariffs taxes of 35% on U.S. consumers who purchase tires from China, which was answered by a Chinese probe into whether U.S.-made autos were being dumped in China at unfairly low prices.
WALL STREET JOURNAL -- U.S. steelmakers won U.S. consumers who purchase products made with steel and American companies that purchase steel as an input lost a case over Chinese steel imports, as the U.S. International Trade Commission voted that the domestic industry has been damaged industries that use steel have been subsidized too generously by cheap steel from China Chinese producers.
The ruling Wednesday will result in duties of taxes on American companies and consumers of between 10% and 16% on future imports of Chinese steel pipes used to extract natural gas and oil. It is the latest in a string of trade decisions against China, the U.S.'s largest trading partner the American consumer and U.S. companies that voluntarily purchase products from China for their low cost and high quality.
On Tuesday, the U.S. imposed preliminary antidumping duties taxes on Americans who purchase steel-grate products imported from China, prompting strong reaction from the Chinese, who said it sent a "wrong, protectionist signal." Earlier this year, the Obama administration imposed tariffs taxes of 35% on U.S. consumers who purchase tires from China, which was answered by a Chinese probe into whether U.S.-made autos were being dumped in China at unfairly low prices.
