Author Topic: US slaps China steel imports with five-fold tax increase  (Read 482 times)

Offline eye-hub

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US slaps China steel imports with five-fold tax increase
« on: May 18, 2016, 04:04:44 PM »
WHAT WILL BE CHINA NEXT MOVE???


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.
Steel is an especially sensitive issue.
US and European steel producers claim China is distorting the global market and undercutting them by dumping its excess supply abroad.
The politics behind the move - Karishma Vaswani, Asia Business correspondent, BBC News
The ruling itself is only directed at what is a small amount of steel from China and Japan and won't have much of an impact - but it is the politics of the ruling that's worth noting.
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.
US steel makers say that the Chinese government unfairly subsidises its steel exports. Meanwhile China has been under pressure to save its steel sector, which is suffering from over-capacity issues because of slowing demand at home.
China's Ministry of Finance has not directly responded to the US ruling but on its website this morning it has said that China will maintain its tax rebate policy for steel exports as part of its efforts to help the bloated steel sector recover.
These tax rebates are seen as favourable policies to shore up ailing steel companies in China, and to avoid massive job losses. Expect more fiery rhetoric from the US on China's unfair trading practices soon.
A separate filing by major US steelmakers to the International Trade Commission is looking to completely ban all Chinese steel imports.
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 and that it has taken steps to reduce its steel production.
Last year, China's exports of cold-rolled steel flat products to the US were valued at an estimated $272.3m (£188.5m).


http://www.bbc.com/news/business-36319141
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline eye-hub

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Re: US slaps China steel imports with five-fold tax increase
« Reply #1 on: May 18, 2016, 04:21:40 PM »
Alibaba's Ma cancels speech after row with anti-counterfeiting group



Alibaba Group Holding Ltd's (BABA.N) chief Jack Ma has canceled a speech at an anti-counterfeiting conference in the United States after the trade group behind it suspended the e-commerce giant's recently gained membership.

Alibaba has been dogged for years by accusations that its online shopping platforms were conduits for counterfeiters and critics say it has not done nearly enough to stop the problem.

At least three members of the Washington-based International AntiCounterfeiting Coalition, including board member Tiffany & Co (TIF.N), quit the group in protest and others threatened to leave after Alibaba was admitted as a member in April.

Alibaba Group Holding Ltd's (BABA.N) chief Jack Ma has canceled a speech at an anti-counterfeiting conference in the United States after the trade group behind it suspended the e-commerce giant's recently gained membership.

Alibaba has been dogged for years by accusations that its online shopping platforms were conduits for counterfeiters and critics say it has not done nearly enough to stop the problem.

At least three members of the Washington-based International AntiCounterfeiting Coalition, including board member Tiffany & Co (TIF.N), quit the group in protest and others threatened to leave after Alibaba was admitted as a member in April.

http://www.reuters.com/article/us-alibaba-iacc-idUSKCN0Y902I
"Price is the most important factor to use in relation to value."  - Walter Schloss

Offline Oghmarana

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Re: US slaps China steel imports with five-fold tax increase
« Reply #2 on: December 13, 2019, 02:41:18 AM »
Trump actions are some retro. however, they give results that works. China is trying to develop and take the high position and I respect that country, but their methods are bad and China, sometimes fraud the US and EU technologies. And that's why United States punish this country.

Offline P5dj2akcm4sl

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Re: US slaps China steel imports with five-fold tax increase
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