Question by sailsouthwind: Could someone inform me what the import tariff is on a steel product imported from China?
Ideal answer:
Answer by Danny
Steel Import Tariff Selection Angers U.S. Allies In Asia
By Patrick Goodenough
CNSNews.com Pacific Rim Bureau Chief
March 06, 2002
In the five countries, government officials, steel executives and media commentators have slammed Bush’s 3-year package program slapping tariffs of up to 30 per cent on a variety of steel imports.
http://www.cnsnews.com/ViewForeignBureaus.asp?Web page=ForeignBureausarchive200203FOR20020306d.html
International Steel Trade News Releases
… urging continuance of the steel import tariff system for an further 18 months. … Finish Instances on Steel Wire Rod Imports from China, Germany and Turkey …
http://www.steelnews.com/attributes/trade.htm
WHITE Home WILL NOT IMPOSE QUOTAS OR VARIABLE DUTY
INCREASES ON IMPORTED STEEL FROM CHINA
Final month, the White House announced that it would not follow the U.S. International Trade Commission’s (ITC) suggestions to impose annual quotas or variable duty increases on imported steel from China.
Seven U.S. steel manufacturers and the United Steelworkers of America petitioned the U.S. government last August for relief, arguing that Chinese imports of steel had enhanced so swiftly that they had been harming the industry for steel utilised in plumbing, air conditioning and heating systems, fencing, and other mechanical applications. The ITC’s study determined that the sharp rise in steel rates from mid-2004 via mid-2005 occurred simply because of imports from China. As a outcome, U.S. steel producers seasoned shard declines in sales, domestic employment, and market place share. The ITC then suggested annual quotas and variable tariff increases to remedy the situation.
The Bush Administration argued that the ITC’s recommendations would impose expenses to customers ranging anywhere from 4-to 5 instances higher than the added earnings that domestic steel producers would generate.
The President authorized the Commerce and Labor Departments to contemplate trade adjustment help for these enterprises and workers injured by the surge in steel imports.*
*this is from 2006 Archive
http://www.exportlawyer.com/CM/ImportantDevelopments2006/ImportantDevelopments3689.asp
What do you believe? Answer below!