Business / Industries

US to levy punitive duties on China's steel wire rod

(Xinhua) Updated: 2014-12-16 10:36

WASHINGTON -- The International Trade Commission (ITC) of the United States ruled on Monday that an American industry is materially injured by reason of imports of carbon and certain alloy steel wire rod from China, paving the way for the US government to levy punitive duties on the products.

As a result of the ITC's affirmative determinations, the US Department of Commerce will issue antidumping and countervailing duty orders on imports of these products from China, said the ITC in a final ruling.

As the US steel industry has been struggling with excess steelmaking capacity around the world and has posted net losses in four of the past five years, US steel producers have increasingly resorted to trade protection.

Last month, the Commerce Department announced its final determination that these products from China were sold in the US market with dumping margins ranging from 106.19 percent to 110.25 percent, and Chinese producers and exporters of such products had received countervailing subsidies ranging from 178.46 percent to 193.31 percent.

The Commerce Department launched the investigation in February, in response to a petition filed by ArcelorMittal USA based in the state of Illinois and five other US companies.

Imports of these products from China were estimated at $313 million last year, according to US official data.

Beijing has repeatedly urged Washington to honor its commitment against protectionism and work with China to maintain a free, open and just trade environment.

Hot Topics

Editor's Picks