The United States launched another salvo in a trade dispute with China last week when it imposed new duties on imports of steel pipes, escalating tensions between the two powers.
The Chinese government quickly fired back, accusing the U.S. of "protectionism."
The U.S. International Trade Commission (ITC) voted unanimously on December 30 to impose duties between 10.36% and 15.78% on the pipes, which are used mostly by the oil and gas industries. Those new tariffs are designed to negate the subsidies that the U.S. government says China gives its steelmakers.
The U.S. Commerce Department has launched an investigation into seamless steel pipe imports from China in a move that could fuel a feud over trade relations. The Commerce Department said Wednesday that it accepted a petition filed last month asking for the probe by United States Steel Corp (NYSE: X), V&M Star LP, TMK IPSCO […]