Good Articles to Share
Trump administration hits 18 countries with US$2b aluminium tariffs
WASHINGTON: The United States on Friday imposed steep new tariffs on nearly US$2 billion in aluminium from 18 countries the Commerce Department accuses of dumping into the American market, including Germany, Spain and Brazil.
Commerce Secretary Wilbur Ross said China was not on the list but is partially responsible for the flood of aluminium sheet imports that could undermine domestic producers.
"What's really been happening, actually, is Chinese excess capacity has been dumped into other markets. That, in turn, displaces production which gets dumped here," Ross said on Fox Business Network.
"It's a very complicated setup but the net effect is a lot of dumping in the US, and that's what we're clamping down on."
Germany and Brazil face the steepest tariffs of close to 353 percent and 137 percent, respectively. The US imported nearly US$287 million of the product from Germany last year, and US$97 million from Brazil.
The preliminary decision means the US will immediately begin collecting the tariffs from importers to compensate for the price of aluminium sheeting sold below the cost of production, or helped by unfair subsidies, according to a Commerce Department statement.
The department could overturn the decision in late February, which is also subject to review by the US International Trade Commission. Their final decision is scheduled for April 5, 2021.
- AFP
More articles on Good Articles to Share
Philippines says won't raise South China Sea tensions, won't use water cannons
Created by Tan KW | May 06, 2024
Buffett says India holds ‘unexplored’ opportunities for future Berkshire leaders
Created by Tan KW | May 06, 2024
Discussions
Be the first to like this. Showing 1 of 1 comments
Post a Comment
Featured Posts
Apps
Top Articles
1
Good Articles to Share
2
save malaysia!
3
4
THE INVESTMENT APPROACH OF CALVIN TAN
5
6
save malaysia!
7
南洋行家论股
8
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
teoct
Lovely, more traffic please...
2020-10-10 11:15