Trade Cases
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On the Heels of 232, Trump Announces More Tariffs on China
Written by Tim Triplett
March 22, 2018
President Trump signed a memorandum Thursday directing the U.S. Trade Representative to recommend tariffs on $50 billion to $60 billion of Chinese goods. In addition to the tariffs, the United States also plans to restrict Chinese invesment in the U.S. and to take action against China at the World Trade Organization, according to press reports.
Even before the dust had a chance to settle over Trump’s announcement that seven other countries will join Canada and Mexico on the list of those exempt from the Section 232 steel tariffs, the administration revealed plans for action under Section 301 of the U.S. Trade Act of 1974, which gives the president wide latitude to retaliate against any act or practice of a foreign government that violates international fair trade standards. The U.S. government has long contended that the Chinese are guilty of currency manipulation and theft of intellectual property, as well as the subsidizing and dumping of goods, such as steel and aluminum, on the world market.
The president directed the USTR to publish a list within 15 days of the Chinese products he recommends be subject to new tariffs, which would kick in following a 60-day consultation period. Treasury Secretary Steven Mnuchin also has 60 days to propose restrictions on Chinese investment in sensitive U.S technology.
Chinese officials were quick to issue a statement condemning the move by the U.S.: “China does not want a trade war with anyone. But China is not afraid of and will not recoil from a trade war. If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures.”
Fears of a trade war on Wall Street caused the Dow Jones to plunge by 700 points on Thursday. The move by the Trump administration is widely opposed by U.S. business and consumer groups.
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Tim Triplett
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Leibowitz: The consequences of a new barrage of trade cases on coated steel
Domestic steel producers and the United Steelworkers (USW) union filed a barrage of trade cases last week. This is hardly news. Ever since the Commerce Department ruled that Vietnam is still treated as a nonmarket economy (NME) for antidumping purposes, many in the business expected new cases on the product that Vietnam excels at—“corrosion-resistant steel.” Nor is it a surprise that these cases roped in nine countries in addition to Vietnam: Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, and the United Arab Emirates. All these countries rank in the top ten exporters of corrosion-resistant steel to the United States. These petitions are a broadside against coated flat-rolled steel imports.
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Coated trade case alleges hefty dumping margins
Domestic mills have alleged substantial dumping margins in the trade case targeting imports of corrosion-resistant steel.
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US mills file sprawling trade case against coated imports from 10 nations
US mills have filed or soon will file a sprawling trade petition against imports of coated flat-rolled steel from 10 countries. The petition seeks anti-dumping margins against Canada, Mexico, Brazil, the Netherlands, Turkey, the United Arab Emirates, Vietnam, Taiwan, Australia, and South Africa. It also seeks countervailing duty margins against Canada, Mexico, Brazil, and Vietnam. That’s according documents dated Sept. 5 and addressed to Commerce Secretary Gina Raimondo and International Trade Commission (ITC) Secretary Lisa Barton.
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Steel Summit 2024: Trade issues abound ahead of election
Trade is always front and center in an election year. And 2024 is no different. There is no shortage of issues, with questions like the sale of U.S. Steel to Japan’s Nippon Steel, potential cracks in the USMCA, and Chinese overcapacity dominating the headlines. But how do you distinguish between issues that might just last until November, and what are the crucial questions that could affect your business for years to come?
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US senators urge reduction to S. Korean OCTG quota
https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-casey-fetterman-biden-administration-level-playing-field-american-octg-industry