The government is imposing new tariffs on imports of steel from China. A group led by US Steel, V&M Star LP, V&M Tubular Corp. TMK IPSCO, Evraz Rocky Mountain Steel, Wheatland Tube Corp. Maverick Tube Corp. and Northwest Pipe and the United Steelworkers union arguing that the Chinese steel industry was flooding the U.S. market with steel sold at unfairly low prices. This will affect about $2.8 billion worth of Chinese imports and is a sign of further trade tensions between the two countries. U.S. Steel, one of the eight companies that brought the complaint that imports from China tripled from 2006 to 2008. This same time U.S. production of steel pipes fell by about 70 percent which has lead to almost 40 percent of the industry’s work force being laid off. The new imposed duties between 10.36 percent and 15.78 percent. The six-member ITC voted unanimously that the U.S. industry was harmed or threatened with harm by the imports. This is only one of the trade disputes as they are negotiations over goods like poultry, tires, and Hollywood movies. In April the Commerce Department may impose antidumping tariffs of 14 percent to 145 percent on $91 million of steel grating imported from China.
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