China Hikes Anti-Dumping Duties on Some Steel Products From the EU and the US - Forex News by FX Leaders
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China Hikes Anti-Dumping Duties on Some Steel Products From the EU and the US

Posted Friday, June 14, 2019 by
Arslan Butt • 1 min read

On Friday, China announced its plans to increase anti-dumping duties on some alloy-steel seamless tubes and pipes used for utilities, imported from the EU and the US. Starting June 14, duties go up to anywhere between 57.9% and 146.8% for steel tubes and pipes from these two regions.

According to the Chinese Commerce Ministry, US steel extrusion firm Wyman-Gordon Forgings will be charged 101% as anti-dumping duties, while all other other US firms will be levied 147.8% in anti-dumping duties. Similarly, tariffs on Vallourec’s French and German units will be 57.9%, and all other EU-based companies will be levied 60.8% anti-dumping tariffs.

The Chinese government announced this decision in a bid to support its domestic steel tubes and pipes businesses. China had previously imposed tariffs between 13 and 14.1% on EU and US companies in 2014 which expired in May 2019.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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