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Summary:
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China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid
mounting complaint Beijing is exporting at improperly low prices to clear a backlog at home.?
Beijing faces mounting criticism from the United States and Europe because of their low-cost
steel which has made Western governments to complain on how is hurting their producers and
threating thousands of jobs. The Chinese government is trying to reduce their productions on
steel, coal, cement, aluminum and solar panel manufacturing where demand exceeds. Making
producers to cut prices leading some of them to bankruptcy.
The Commerce Department ruling levies import taxes of 522 percent, 266 percent anti-dumping
duty and 256 percent anti-subsidy duty on imports of Chinese cold-rolled steel which is used in
automobiles and construction.
The United States Steel Corp. along with other producers, they have filed a complaint accusing
the biggest Chinese steel producers of ?conspiring prices, stealing trade secrets and skirting
duties on imports in the U.S. with false trade?.
Reaction:
China is one of the most competitive and faster growing market. The issue is if China
continues lowering their steel prices compare to their competitors this can cause economically
problems in other countries, because domestic producers won?t be able to sell their products
pushing them to lower their prices which later on can led producers to close causing thousands of
employees to be lay off. The U.S. government has imposed massive tariffs on Chinese
steelmakers and I have no doubt if China does not change other countries will do the same as
U.S. It is important to have a balance in trade because this can also affect future negotiations and
sometimes it can led to political issues. Summary: ?China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid
mounting complaint Beijing is exporting at improperly low prices to clear a backlog at home.?
Beijing… After working on your question, I… View the full answer
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