U.S. Slaps anti-dumping duties on Chinese Steel

If you go to the link I posted below to read the rest of the article, at the bottom of the article I posted, you will see related articles on the U.S./Chinese trade relation news. Also, there is an article in this newspaper about the Chinese Social Security Fund and a bank officer with an article about the financial status of the world economy for this year.

WASHINGTON, April 9 (Xinhua) -- The United States on Friday imposed anti-dumping duties ranging from 30 percent to 99 percent on imports of steel pipes used in oil and gas wells, a move that might escalate trade disputes between the two countries.

The Commerce Department said in a statement that prices for the Chinese pipes, or "oil country tubular goods (OCTG)," are 29.94 percent to 99.14 percent lower than fair value when it is sold in the U.S. market.

According to the department, 37 Chinese firms will receive a final dumping rate of 29.94 percent, and all other Chinese exporters are subject to the final dumping rate of 99.14 percent.

However, the U.S. International Trade Commission (ITC), an independent federal agency, could still cancel the anti-dumping duties if its members find in a vote that U.S. domestic steel producers suffer no harm from the imported Chinese products, which were worth 1.1 billion U.S. dollars in 2009.

The ITC is scheduled to issue its final injury determination on or before May 24.

http://news.xinhuanet.com/english2010/china/2010-04/10/c_13245019.htm