US decided to impose "double-reverse" tariffs on China-made steel products
Xinhua News Agency, Washington, March 3 (Reporter Zheng Qihang Gao Pan) The US International Trade Commission made a final ruling on the 3rd that US will impose anti-dumping on carbon steel and alloy steel fixed-length plates (CTL plates) and stainless steel plates imported from China. The "double-reverse" tariffs means taxes and countervailing duties.
The US International Trade Commission ruled that the above-mentioned steel products imported from China caused substantial damage to the US industry. Since the US Department of Commerce had previously determined that there were dumping and subsidies for the above-mentioned products exported from China to the United States, the decision of the International Trade Commission on the same day meant that the US Department of Commerce would formally require Customs to impose "double-reverse" tariffs on such products.
According to the final determination of the US Department of Commerce, the US Department of Commerce will impose a 68.27% anti-dumping duty and a 251% countervailing duty on Chinese manufacturers exporting CTL boards to the United States, and levy 63.86% and 76.64% two anti-dumping dutieson Chinese manufacturers exporting stainless steel strips to the United States, and 75.6% and 190.71% two countervailing duties.
In February of this year, the relevant person in charge of the Ministry of Commerce of the People's Republic of China issued a speech on the final decision of the United States to make a "double-reverse" investigation on Chinese steel products. He expressed strong dissatisfaction with the US practices and decisions and said that it will take necessary measures to safeguard corporate fair rights.
According to the US Department of Commerce, the US imports of CTL and stainless steel strips from China in 2015 were $70.3 million and $302 million respectively.