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Tuesday, 20 March 2012 - U.S. sets duties on steel wheels from China |
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Reuters Deals Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Reuters Technology Report Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Subscribe Full List of Available Newsletters U.S. sets duties on steel wheels from China Tweet Share this Email Print Related News U.S. solar to get Obama aid in battle with China 11:15am EDT Lawmakers urge Obama to act on China auto parts Fri, Mar 16 2012 Government to challenge China on rare earths curbs at WTO Tue, Mar 13 2012 Bill targeting Chinese subsidies goes to Obama Tue, Mar 6 2012 Senate OKs bill aimed at China subsidies Mon, Mar 5 2012 Analysis & Opinion The rare earths distraction China’s trade deficit is sign of things to come Related Topics World » China » A labourer checks a steel rim at a wheel factory in Tianmen, central China's Hubei province October 26, 2007. Credit: Reuters/Stringer WASHINGTON | Mon Mar 19, 2012 4:35pm EDT WASHINGTON (Reuters) - The United States on Monday set large punitive duties on imports of steel wheels from China that it said were unfairly priced and subsidized, in the latest sign of trade tension between the world's two biggest economies. The U.S. Commerce Department said Chinese producers were selling the steel wheels at prices 44.96 percent to 193.54 percent below fair value. It also said Chinese producers had received government subsidies ranging from 25.66 percent to 38.32 percent of the value of the wheels. The decision was a victory for Accuride Corporation and Hayes Lemmerz International Inc, which filed a pair of petitions last year asking for import relief. The United States imported over $84.2 million in steel wheels from China in 2011. The Commerce Department set preliminary duties in the case last year. U.S. manufacturers have filed dozens of cases in recent years alleging unfair Chinese trade practices. The department will issue a preliminary duty decision on Tuesday in a high-profile case against solar panels from China, which U.S. manufacturers complain are unfairly priced and subsidized. It will also make final duty decisions on Tuesday in cases involving galvanized steel wire and optical brightening agents made in China. The department will announce on Wednesday whether it has accepted an industry petition asking it to probe if Chinese-made stainless steel sinks are unfairly priced and subsidized. (Reporting By Doug Palmer; Editing by Paul Simao) World China Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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