U.S. Calls for 256% Tariff on Steel From China


tay
#1
Corrosion-resistant steel imports from China were sold at unfairly low prices and will be taxed at 256 percent, according to a preliminary finding of the U.S. Department of Commerce.

“We’re concerned that the dumping that’s occurring is at higher levels than these determinations reflect,” Tim Brightbill, a partner at Wiley Rein LLP, a law firm representing U.S. steelmaker Nucor Corp., said Tuesday in an interview. “We have serious concerns that these preliminary duties are not enough at a time when unfairly priced imports continue to surge into the U.S. market at unprecedented rates.”

U.S. producers including Nucor, U.S. Steel Corp. and Steel Dynamics Inc. filed cases in June alleging that some products from China, India, Italy, South Korea and Taiwan had been dumped in the U.S., harming domestic companies. In November, the government found that all those countries, except Taiwan, subsidized their domestic production by as much as 236 percent of its price.

U.S. steelmakers have filed three sets of cases against imports of hot-rolled, cold-rolled and corrosion-resistant steel after deliveries from abroad surged. The price of hot-rolled steel coil, the benchmark product, is down about 40 percent this year, with domestic mills idling as much as 38 percent of capacity after imports climbed by 38 percent in 2014.

Imports of all steel products through October rose 3.9 percent in 2015. The Commerce Department estimated that the value of imports of anti-corrosive steel -- coils of the metal which have been coated with zinc or other treatments to prevent rust -- from the target countries to be $2.16 billion.

U.S. Calls for 256% Tariff on Imports of Steel From China - Bloomberg Business
 
Jinentonix
No Party Affiliation
+1
#2
Poor America. Always looking and willing to f*ck someone else but God forbid they get a taste of it. Then they cry like a bunch of 4 year olds.
 
MHz
#3
It didn't say the local plants were going to pick up the slack so it could be that production will also be down that same amount in the coming year.
 
lone wolf
Free Thinker
#4
You have to wonder at raw materials being shipped overseas and processed there, then dumped back on these shores cheaper than steel can be produced here. It can't ALL be union scale scourge
 
MHz
#5
Perhaps the owners of the machines insist on taking 10% for themselves, off the top, or the wheels don't turn.
 
taxslave
Free Thinker
+2
#6  Top Rated Post
Quote: Originally Posted by lone wolf View Post

You have to wonder at raw materials being shipped overseas and processed there, then dumped back on these shores cheaper than steel can be produced here. It can't ALL be union scale scourge

Only part of the problem. Taxation by multiple levels of government is another third. EXpensive and unnecessary environmental regulations are the third anchor pulling industry in North America underwater. No different than what happened to the sawmilling capacity on the west coast.

The triple corrosion protection bolts we get for rock stabilization in the tunnel project I am working on come from Norway. Apparently there is no North American producer.
 
Ludlow
No Party Affiliation
#7
Hope it's better than their plywood which sucks.

Quote: Originally Posted by Jinentonix View Post

Poor America. Always looking and willing to f*ck someone else but God forbid they get a taste of it. Then they cry like a bunch of 4 year olds.

yes all 320 million of us
 
Angstrom
No Party Affiliation
#8
After the stunt we pulled to fu€k China's plans to use their own currency to buy Russian oil. This is just a small kick back. It's all out economic war being waged in the world right now. There is no more mister nice guy now. I wouldn't be surprised if they start intentionally poisoning their products with arsenic soon, if it's not already done.
 
coldstream
#9
Take a look at the Rust Belts and abandoned steel mills in Pennsylvania, upstate New York, Ohio, Indiana and West Virginia.. and you'll realize this should have been done decades ago. And the reasoning should not have been on the basis of 'fairness'.. but simple economic survival. And i am not sure 256% is enough to reboot the industry. And it will need to be a permanent feature, enough to guarantee long term investment and viability in the industry.
Last edited by coldstream; Dec 24th, 2015 at 02:27 PM..
 
CDNBear
#10
Good idea, they make junk.

Seriously, just rejected about $100,000 worth of Chinese stainless, ordered for Adalaide centre in Tdot.

It wasn't even 316, it was 304 for crying out loud. And they couldn't even get that cheap crap right. Delamination, voids. Complete junk.
 
Angstrom
No Party Affiliation
#11
Go's to show. Over there, the government don't spend money on their population. They subsidize corporations to the max.
 
MHz
#12
That would depend if that was an example of their best products or we got shipped the product that was rejected by the buyer who was willing to pay top dollar. The design of the building could make use of locally available products and that would eliminate imports and chasing a warranty that may or may not exist.
In the triple corrosion protection how do you verify that the two extra coats were applied without examining the same bolt 50 years later? How much extra for the 2 extra dips??
 
darkbeaver
Republican
#13
Quote: Originally Posted by CDNBear View Post

Good idea, they make junk.

Seriously, just rejected about $100,000 worth of Chinese stainless, ordered for Adalaide centre in Tdot.

It wasn't even 316, it was 304 for crying out loud. And they couldn't even get that cheap crap right. Delamination, voids. Complete junk.

Why blame the Chinese? Who was the purchase agent?
 
MHz
#14
Perhaps the steel was from Japan and mislabeled.
 
Angstrom
No Party Affiliation
#15
Quote: Originally Posted by CDNBear View Post

Good idea, they make junk.

Seriously, just rejected about $100,000 worth of Chinese stainless, ordered for Adalaide centre in Tdot.

It wasn't even 316, it was 304 for crying out loud. And they couldn't even get that cheap crap right. Delamination, voids. Complete junk.

The number indicates the quality in what sense?
 
Jinentonix
No Party Affiliation
#16
Quote: Originally Posted by Ludlow View Post

Hope it's better than their plywood which sucks.


yes all 320 million of us

Notice I said America and not Americans?
 
CDNBear
#17
Quote: Originally Posted by darkbeaver View Post

Why blame the Chinese?

Because they make an inferior product.

Quote: Originally Posted by MHz View Post

Perhaps the steel was from Japan and mislabeled.

Geezus you're an idiot.

Quote: Originally Posted by Angstrom View Post

The number indicates the quality in what sense?

304 is more susceptible to corrosion, since it contains 18% chromium, and 8% nickel. While 316L is far less susceptible and contains 16% chromium, 10% nickel and 2% molybdenum. 304 is harder than 316, but only marginally so.
 
MHz
#18
Quote: Originally Posted by CDNBear View Post

Geezus you're an idiot.

You are the one taking humor as being serious and skipping over the first part that indicated perhaps Canada ordered the cheap stuff and that is the only issue. Or do you really believe that China is that bad at making all products? Because that would clearly make you the idiot in the room, as always.
 
CDNBear
#19
Quote: Originally Posted by MHz View Post

You are the one taking humor as being serious and skipping over the first part that indicated perhaps Canada ordered the cheap stuff and that is the only issue.

Geezus you're an idiot.

Quote:

Or do you really believe that China is that bad at making all products?

I know for a fact that they make sh@tty stainless and elevator motors.

Quote:

Because that would clearly make you the idiot in the room, as always.

But given absolutely stupid you are, your opinion is irrelevant.