China Slaps Duties On U.S. Steel Imports

Washington trade officials said that China’s decision to slap preliminary duties on a U.S. specialty steel product does not appear justified, Reuters reports. China announced that it will impose anti-dumping duties of up to 25% on imports of the specialty steel from the U.S. and Russia. It also set additional duties, around 12%, on U.S. steel to offset alleged subsidies.

The action follows a number of U.S. steel industry trade cases against China that have prompted Beijing to accuse the U.S. of protectionism.

“While the tonnage involved in this trade suit, 75,000 tons, or less than a tenth of a percentage point of the Chinese market, is truly trivial, this decision is anything but,” said Michelle Applebaum of Steel Market Intelligence in Chicago. “This trade case reflects an effort by Beijing to stem a surging tide of Western complaints about China’s high cost and subsidized steel industry’s exports.”