Aluminium the latest Chinese good to receive U.S. tariffs
Aluminium the latest Chinese good to receive U.S. tariffs
China Strongly Dissatisfied With US Anti Dumping Duties on Chinese Aluminum Foil REUTERS Stringer
02 March, 2018, 07:49
CHINA yesterday expressed its strong displeasure with USA steep import duties on aluminum products from China, with an official saying that the country will take "necessary measures" to defend its interests. "China is strongly dissatisfied with this", said Wang Hejun, the head of MOFCOM's Trade Remedy and Investigation Bureau.
The tariffs will range from 49% to 106% as punishment for dumping onto the USA market, with an additional 17-81% in response to subsidies that Chinese producers have received.
The US Commerce Department has made the wrong decision by levying high duties "without any evidence" and has unreasonably and excessively adopted trade remedy measures, which will affect its domestic employment and undermine the welfare of US consumers, Wang added. He went on to say that in order "to confront the United States wrongdoings, China will take every necessary measure to protect its own legitimate rights".
Last month the USA slapped duties on imports of Chinese-made washing machines and solar panels, with China in turn taxing American sorghum.
The Commerce Department said anti-dumping margins would be set at 48.64 per cent for Jiangsu Zhongji Lamination Materials Stock Co, at 106.09 per cent for Hangzhou Dingsheng Import & Export Co and related companies, 89.54 per cent for 14 other companies and 106.09 per cent for the rest of producers in China. The ITA called for tariffs ranging up to 106 percent to offset the damage. Loften Aluminum (Hong Kong) Limited, Manakin Industries LLC, and Suzhou Manakin Aluminum Processing Technology Co Ltd will be given 80.97 percent. The ITC will announce its ruling on March 15.
Many US businesses withdrew from aluminum foil production to direct more resources into other aluminum markets that were more profitable more than 20 years ago, Wang said.
The Department of Commerce has also concluded that biodiesel from Argentina and Indonesia is priced lower in the USA than at home, and thus subject to anti-dumping duties.
A quota on all steel products from all countries equal to 63% of each country's 2017 exports to the United States.
U.S. aluminium enterprises chose to withdraw from the global foil industry more than two decades ago, as they believed that it had low added-value.
The product also benefited from unfair subsidies at rates as high as 80.9%.
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