Wednesday, February 24, 2010
Around and around we go...
The symbiotes continue to dislike one another, but the U.S. still has the upper hand. Cheap labor pools to ship inexpensive goods can be found on other continents.
Feb. 24 (Bloomberg) -- The Obama administration imposed preliminary duties averaging 12 percent on $382 million of steel pipe imports from China after companies including U.S. Steel Corp. complained of unfair subsidies.
Pipemakers are being subsidized by the Chinese government, the U.S. Commerce Department said in an e-mailed statement today. The tariffs are on pipes used in chemical, petrochemical and refinery plants, the department said.
U.S. Steel, the second-largest U.S. steelmaker, has been seeking dumping duties of 60 percent or more on Chinese steel pipe, and subsidy duties of 15 percent to 30 percent. Pittsburgh- based U.S. Steel was joined in the petition by the U.S. subsidiary of France’s Vallourec SA, the world’s second-largest maker of steel tubes for oil and gas production.
The U.S. imposed tariffs last year on $2.7 billion of a different type of steel pipe used in oil wells, the largest countervailing duty case filed against Chinese imports.