22/08/2023
China-United States trade war upgrade!!!
The U.S. Department of Commerce announced on August 17 local time that it would impose preliminary anti-dumping duties on tin-plated steel imported from China, Germany, and Canada. For this reason, China will face a tax rate as high as 122.5%, while Germany and Canada are 7.02% and 5.29% respectively. Tin-plated steel is an important material used in the manufacture of containers such as food cans. The measures will lead to higher prices for canned goods, which consumers will pay for, and possibly a higher cost of living. The decision of the U.S. Department of Commerce this time mainly comes from a petition filed by U.S. steelmaker Cleveland-Cliffs in February this year. But the U.S. Department of Commerce finally eliminated the United Kingdom, the Netherlands, South Korea, Turkey, and Taiwan, but decided to impose tax rates on China, Germany, and Canada. An official of the U.S. Department of Commerce said that China's tax rate is so high because one Chinese manufacturer did not cooperate enough with the U.S. investigation, and other Chinese manufacturers could not prove their independence from the Chinese government. China-US trade war escalates again
U.S. cracks down on imports of tin-plated steel
The U.S. Department of Commerce announced on August 17 local time that it would impose preliminary anti-dumping duties on tin-plated steel imported from China, Germany, and Canada. For this reason, China will face a tax rate as high as 122.5%, while Germany and Canada are 7.02% and 5.29% respectively.
Tin-plated steel is an important material used in the manufacture of containers such as food cans. The move in the U.S. could lead to higher prices for canned goods, which consumers will pay for, and possibly a higher cost of living.
The decision of the U.S. Department of Commerce this time mainly comes from a petition filed by U.S. steelmaker Cleveland-Cliffs in February this year. The petition accused foreign countries of dumping in the electroplated tin sheet steel industry, which led to the closure of several U.S. factories. In addition to accusing China, Germany, and Canada of "dumping", it also accused Britain, the Netherlands, South Korea, Turkey, and Taiwan of China.
But the U.S. Department of Commerce finally eliminated the United Kingdom, the Netherlands, South Korea, Turkey, and Taiwan, but decided to impose tax rates on China, Germany, and Canada
An official of the U.S. Department of Commerce said that China's tax rate is so high because one Chinese manufacturer did not cooperate enough with the U.S. investigation, and other Chinese manufacturers could not prove their independence from the Chinese government.
For Chinese tin-plated steel manufacturers, such a high tax rate will undoubtedly have an impact on our exports. Some domestic experts believe that China's tin-plated steel exports and its global market share are large. In the short term, domestic-related companies will be impacted. However, in recent years, the country has taken measures to protect the environment and regulated the production scale of tin-plated steel. Look, these measures by the United States can actually force domestic companies to carry out industrial transformation and technological upgrading.