. Earth Science News .
TRADE WARS
US hits Vietnam with huge duties on steel made with Chinese material
by Staff Writers
Washington (AFP) Dec 5, 2017


The United States on Tuesday imposed huge duties on some steel imports from Vietnam, saying they were produced with Chinese material already subject to retaliatory penalties.

The products will be subject to US punitive duties of up to 265 percent of their value, the Commerce Department said in a statement, yet another in a series of aggressive trade enforcement steps by President Donald Trump's administration, many targeting China.

US imports from Vietnam have skyrocketed since the US imposed duties on the Chinese product two years ago, indicating companies are circumventing US duties by passing through Vietnam, the Commerce Department said.

The duties on the Chinese product were designed to compensate for product produced at below cost and dumped into the US market.

Since then, imports of corrosion-resistant steel from Vietnam have jumped to $80 million a year from just $2 million, while cold-rolled steel surged to $215 million from $9 million, according to the statement.

The duties imposed are a preliminary finding in the complaint filed by six US steel manufacturers, and the department will announce a final decision in February. Importers of the product from Vietnam can file for an exemption from the duties if they can prove the material used in production originated outside of China.

Washington has stepped up adversarial trade actions with China since Trump took office in January on a nationalist economic agenda, imposing duties on Chinese aluminum foil and plywood, among other goods.

Beijing reacted harshly last week after Washington opened an anti-dumping probe of Chinese common aluminum alloy sheet worth hundreds of millions of dollars annually.

The Trump administration in April also launched national security investigations into Chinese aluminum and steel imports, warning the country's overcapacity threatened to undermine producers crucial to US defense needs.

Trump also has promised to reduce bilateral trade deficits with major trading partners.

However, the Commerce Department reported earlier Tuesday that US imports of goods from China were the highest on record in October, helping drive up the bilateral trade gap by $2.1 billion to $31.9 billion for the month.

TRADE WARS
Australia casino giant Crown hit with class action over China
Sydney (AFP) Dec 4, 2017
Australian gambling giant Crown was hit with a class action Monday after 18 employees were arrested in China, alleging it did not give shareholders enough information about the risks being taken. The employees, who pleaded guilty, were held for 10 months on charges of luring rich Chinese to Australia, before being released in August. They included Jason O'Connor, the executive vice pres ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Beijing evicts migrants onto cold streets, sparking outcry

Seven 'trapped' after cargo ships collide off south China

China port city blast caused by illegal explosives: police

Army contracts for temporary electricity for Puerto Rico, U.S. Virgin Islands

TRADE WARS
Borophene shines alone as 2-D plasmonic material

UCLA engineers use deep learning to reconstruct holograms and improve optical microscopy

Study shows how to get sprayed metal coatings to stick

PPPL scientists deliver new high-resolution diagnostic to national laser facility

TRADE WARS
There's a deeper fish in the sea

The world needs to rethink the value of water

Why are there no sea snakes in the Atlantic?

Scientists discover resilient 'heart' of Great Barrier Reef

TRADE WARS
Antarctic Selfie's Journey to Space via Disruption Tolerant Networking

Antarctic landscape insights keep ice loss forecasts on the radar

Operation IceBridge 2017: The Beauty of Ice

Added Arctic data shows global warming didn't pause

TRADE WARS
Gene discovery may halt worldwide wheat epidemic

Istanbul anglers keep up tradition despite stocks alarm

Genome of wheat ancestor sequenced

Fighting plant disease at warm temperatures keeps food on the table

TRADE WARS
New Zealand says no charges over killer quake building

Bali volcano burns wedding dreams, threatens economy

16 dead, 100 missing as cyclone hits India, Sri Lanka

Tourists leave as Bali's volcano-hit airport gets back to business

TRADE WARS
Mali justice minister resigns after activist's acquittal

Cash and history keep Europe as Africa's prime partner

China hails new Zimbabwe leader, denies role in transition

China taps Africa at Morocco Silk Road investment forum

TRADE WARS
Chimp females who leave home postpone parenthood

Long-term logging study demonstrates impacts on chimpanzees and gorillas

What grosses out a chimpanzee?

Human evolution was uneven and punctuated, suggests new research









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.