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China's subsidies and tax breaks to its industries are tremendously
large. The alleged "low cost manufacturing" situs argument is
false. The U.S. International Trade Commission decided, in a 5-0
vote, that China subsidized its steel pipe industry to an extent
justifying 100 percent duties. The domestic steel pipe industry is the
winner.
Countervailing and anti-dumping duties are not
protectionist. They are neutralizing, not punitive. They
are pro-trade mechanisms because they eradicate trade distortion.
This is a final decision. The administration has no
discretion to alter it. The full Bloomberg article is below the
fold.
McCain has not commented. But Obama has:
Illinois Senator Barack Obama, the presumptive Democratic
nominee for president, in a statement today reacting to the
decision, said, ``The United States must always use the full
range of multilateral and bilateral tools to insist that China
and all other nations abide by the rules that govern the economic policies of nations.''
U.S. Trade Panel Backs Duties on Chinese Pipe Imports (Update2)
2008-06-20 13:55 (New York)
(Adds Obama comment seventh paragraph.)
By Mark Drajem
June 20 (Bloomberg) -- The U.S. International Trade
Commission ruled that domestic steel pipe makers are being harmed
by competition from China, a decision that will lead to tariffs
of more than 100 percent on imports of that product.
The decision, in a 5 to 0 vote, marks the first time the
U.S. will impose duties to compensate for tax breaks and other
government subsidies to Chinese competitors.
The finding by the independent trade body means that tariffs
on the imports of the pipe used in plumbing and fencing set in a
decision last month by the Commerce Department will take effect.
``This marks a fundamental shift in U.S.-China trade
relations,'' said Gilbert Kaplan, a lawyer for U.S. pipe makers.
``It's the first time we've confronted their subsidies by putting
duties on imports.''
The duties would effectively block all imports from China of
these pipes, Kaplan said. China is likely to challenge the duties
at the World Trade Organization, he said.
U.S. makers of other steel products may now be able to bring
complaints against China using this precedent, said Roger
Schagrin, another lawyer representing the U.S. industry.
Illinois Senator Barack Obama, the presumptive Democratic
nominee for president, in a statement today reacting to the
decision, said, ``The United States must always use the full
range of multilateral and bilateral tools to insist that China
and all other nations abide by the rules that govern the economic
policies of nations.''
Two Types of Tariffs
Two types of tariffs will apply to the Chinese pipe:
countervailing duties, used to counter subsidies, will average
37.2 percent; and anti-dumping duties, to compensate for goods
sold overseas at prices below those at home, will be 69.2 percent
on 31 of the largest producers. Other companies face higher
duties.
The ITC decision is a win for companies such as Ipsco Inc.,
owned by the Swedish steelmaker SSAB AB, and Sharon,
Pennsylvania-based Sharon Tube Co.
China has passed Canada to become the largest U.S. trading
partner. The U.S. trade deficit with China reached $256 billion
last year, the largest gap between two nations in history.
Trade in the pipe products has surged, too.
From 2004 to 2006, imports of Chinese-made circular welded
carbon pipe increased to $332 million from $138 million.
Final Hurdle
The decision today by the independent trade panel was the
last of four hurdles domestic producers had to clear to get
duties imposed.
In the first case that targeted Chinese subsidies -- over
coated paper -- the panel ruled that American companies weren't
being harmed by imports, a decision that meant the tariffs didn't
go into effect.
The Shuangjie Group and Jiangsu Yulong Steel Pipe Co.
withdrew their participation in the Commerce Department's
investigation of the case and received an 85.55 percent anti-
dumping tariff, the department said last month.
In the subsidy investigation, the Commerce Department
calculated final duties for Weifang East Steel Pipe Co. at 29.57
percent and the Kingland Group at 44.86 percent. Shuangjie
declined to participate and got a 615.9 percent tariff.
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