China opposes US duties

China has announced that they strongly oppose a ruling by the US Commerce Department to impose duties of as much as 31% on steel pipes. “The Ministry of Commerce is very concerned about the ruling and strongly opposes it,” said a spokesman from the Chinese ministry. The average duties on USD 2.8 billion in annual imports of the pipe, used in oil and gas wells, will be 21.3%. The ruling agreed with American producers led by US Steel Corp. that the imports were supported by unfair subsidies. The tariffs may help US Steel and other domestic producers weather a drop in pipe demand following last year’s collapse in oil prices. It also may be a precursor for a number of trade complaints against China.
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