Posted on 12/30/2009 11:33:06 AM PST by UAConservative
WASHINGTON — The US International Trade Commission gave final approval Wednesday for imposition of penalty tariffs on imported Chinese steel pipes targted for unfair subsidies.
The commission, an independent federal agency determining import injury to US industries, said it "has made an affirmative determination in its final-phase countervailing duty investigation concerning" the "oil country tubular goods" from China.
The Commerce Department said last month it wanted to impose tariffs of between 10.36 percent and 15.78 percent, in addition to normal duties, following a probe on the imported steel pipes used to deliver oil and gas in the petroleum industry.
The final ruling by the commission paved the way for the imposition of the duties.
"This is the final piece in the puzzle," an ITC official told AFP, speaking on condition of anonymity, just before the commission's announcement.
"The ITC will forward in writing the formal determination to the Commerce Department within 10 days," the official said.
From 2006 to 2008, imports of such pipes from China increased 203 percent by volume, the department said. They were valued at 2.6 billion dollars last year.
The ruling came amid heightened trade friction between the United States and China.
In September, the United States announced it would slap duties on Chinese-made tires to protect local US industry, sparking the first major trade spat under Barack Obama's presidency.
An angry Beijing lodged a complaint at the World Trade Organization and retaliated by launching a probe into possible unfair trade practices involving imports of US car products and chicken meat.
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Folks, we're headed for a depression.
Aren’t chinese pipes generally smaller than american pipes?
First we put all our steel mills out of business then we pull this bravado to fool us like they are are protecting us or something.
Aren’t they wonderful.
Steel pipe can be roll formed to any size needed, so I really couldn’t say if the Chinese produce more small pipes than the US.
Didn’t get the joke, eh?
I guess the united states steel nazi’s finally won one....after pulling this kind of crap for over 35 years, on every type of imported steel there is, they finally got a tariff slapped on one.....
“This is Smoot-Hawley all over again. Don’t we ever learn?”
I learned it had nothing to do with the Depression. The belief it did was agitprop from the importing interests.
This is great news because we have so much steel production in USA anymore!!!
And the chinese are nice and sweet and we don’t owe them trillions of dollars.
I hope Obama is kissing them when he is making sex to them
The US is the world’s 4th largest steel producer, behind China, Japan and Russia. Russia barely beats us with less than 1% more production.
Japan produces nearly 50% more steel than we do.
China however, kicks everyone’s butt in this game. They actually produce more steel than the rest of the world does taken together.
http://www.worldsteel.org/?action=stats&type=steel&period=latest
Actually, the agitprop is from protectionists who twist themselves into pretzels arguing that increasing taxes stimulates economic growth. It's fun to watch.
“Actually, the agitprop is from protectionists who twist themselves into pretzels arguing that increasing taxes stimulates economic growth. It’s fun to watch”
I have never seen a “protectionist” argue for increased taxes. I suppose it could occur, but they are not mutually dependent positions—that is, without a twist that is boring to watch.
On FR, I haven't seen it for a week or so. The person tried to make the distinction that it wasn't a "tax" because it was "indirectly" collected. Much fun.
Anything to make our energy more expensive.
The guy who has a job making steel here is spending that money here. House payments, doctors services etc.....
LOL!
The guy who has a job making steel here is spending that money here.
What is the guy who lost his job in a steel consuming industry going to do for money?
Details please.
You know we actually have Americans working in factories making stuff out of steel, don’t you?
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