The United States announced measures against Chinese dumping

The US government has announced the latest measures to deal with unfair trade practices, including the dumping of Chinese steel products.
According to Voice of America, the Biden administration announced the latest measures on April 16 to protect the US steel and shipbuilding industry from China's illegal dumping of steel products. In addition to tripling tariffs on China's steel and aluminum imports, the US Trade Representative's office will also investigate unfair practices in China's shipbuilding industry.
According to a statement issued by the White House, President Biden believes that steel is the backbone of the US economy and the cornerstone of US national security. But workers in the steel and aluminum industry face major challenges due to China's steel and aluminum exports. With China's overproduction and unmarketable investment in the steel and aluminum industries, high-quality American products are struggling to compete with China's low-cost, artificially produced, carbon-intensive products. That's why Biden first ordered the US Trade Representative's office to consider tripling tariffs on Chinese steel and aluminum.
Under Section 301 of the US Trade Act, the average tariff on steel and aluminum is 7.5%. As a result of China's policies and subsidies for its steel and aluminum industries, high-quality American products face competition from cheaper Chinese products.
Currently, in addition to the United States, workers in Latin American countries have also called for China to raise steel import tariffs. They face a dumping of cheap Chinese steel products, threatening hundreds of thousands of jobs in the industry.
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18/04/2024
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