American Steelmakers Say China is Dodging Tariffs by Sending Steel Through Vietnam | 9/23/2016 | Staff
hubbog (Posted by) Level 3
Click For Photo:

U.S. steelmakers say Chinese steel companies are purposely avoiding U.S. import tariffs by routing their shipments through Vietnam – and they want the Commerce Department to take action to stop it.

U.S. Steel, ArcelorMittal, Nucor Corp., and AK Steel plan to file petitions today and Monday with Commerce, which will have 45 days to decide whether to take up the cases. If Commerce eventually finds that China is evading U.S. tariffs, it could expand tariffs on steel that originates in China but is shipped through Vietnam.

Commerce - Department - China - Steel - US

The Commerce Department repeatedly has found that China is dumping its steel into the U.S. market, and has issued several sets of anti-dumping and countervailing duties on steel imports from China. But these new cases move the issue into new territory.

And as the Wall Street Journal reported on Friday, the American steel companies appear to have a pretty strong case:

Trade - Data - Credence - Steelmaker - Claims

"Independent trade data appear to lend credence to the steelmaker claims. In the first six months of 2016, shipments of steel from Vietnam to the U.S. increased to 312,329 tons, from 25,756 tons. Over the same period, Chinese exports of steel to Vietnam rose 46% to 6.3 million tons from 4.3 million tons, according to data firm Global Trade Information Services."

Duty evasion takes place quite often. A recent report from the Government Accountability Office found that $2.3 billion in import duties from...
(Excerpt) Read more at:
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!