The steel pipe makers achieved a victory against a flood of subsidized Chinese imports.  The U.S. Department of Commerce will apply a 16.59% countervailing duty against the imports, which is the average subsidy found in the case.

Chinese pipe subject to the petition surged from 10,000 tons in 2002 to more than 750,000 tons in 2007, the American tube companies said. The increase has resulted in 500 lost jobs — about 25 percent of the industry segment’s total work force, companies said.

The duty, known as countervailing because it’s intended to offset government subsidies, will require importers to post bonds in the amount calculated by the commerce department, the tube companies said.

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Write comment

Name

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Add Comment