US slaps China steel imports with fivefold tax increase

[timosman]

http://www.bbc.com/news/business-36319141

The US has raised its import duties on Chinese steelmakers by more than fivefold after accusing them of selling their products below market prices.
The taxes of 522% specifically apply to Chinese-made cold-rolled flat steel, which is used in car manufacturing, shipping containers and construction.
The US Commerce Department ruling comes amid heightened trade tensions between the two sides over several products, including chicken parts.
Steel is an especially sensitive issue.

Continued...

[tod evans]

Ummm,

It's 40 years to late to try and resurrect the US steel industry...

Especially with more legislation!

'Twas legislators that killed it decades ago, more of their antics won't be good.

[erowe1]

The US has raised its import duties on Chinese steelmakers by more than fivefold

Notice the propaganda. They don't say they raise duties on American steel buyers. They try to make it sound like this is all good for Americans and someone else is picking up the tab.

[AZJoe]

Yeah. That'll teach those American consumers and American manufacturers trying to pay less for their steel.

Pay more for less. Stifle free trade. Crony socialism - have American consumers subsidize special interests by rigging markets. Yeah - that's what America stands for.

[Henry Rogue]

*accusing them of selling their products below market prices.

Lol. How do these geniuses think market prices are determined?

[tod evans]

Notice the propaganda. They don't say they raise duties on American steel buyers. They try to make it sound like this is all good for Americans and someone else is picking up the tab.

The taxpayer always picks up the tab, 40 years ago when government forced steel manufactures to shut down with their edicts the taxpayer paid governments salaries, now taxpayers are paying their pensions.

And the taxpayer is told it's everybody elses fault, big business, the Chinese, anybody but the politicians who caused this mess....The ones who actually caused it are either dead or sucking a pension, but the new ones..............They are wholly to blame for continuing the practice...

China couldn't compete in the US steel market if the US government hadn't choked the steel manufacturers...

[oyarde]

Cold Roll steel is no longer in use for exhaust , that has all been more expensive stainless ( lasts longer ) for years . What are auto makers using it for ?stamped body parts ?

[pcosmar]

Taking another poke at China.

I wonder if scrap iron prices will come up any? Been $hit low for some time.

[Cdn_for_liberty]

I wonder what Trump will say now?

[Bossobass]

The US steel industry was purchased by the banking cartel in the 20th century. THEY moved it to China after Davie Rockefeller went over there and laid out the deal to the handful of the rulers of China and Ronnie bestowed Most Favored Nation status on the Communist Regime.

They moved the bulk of US steel production in 5 years, a mammoth undertaking requiring years of planning.

They arranged for bonds to raze the abandoned plants and build shopping malls in their place so that no one could revive the plants and compete and so that the new consumer economy would have plenty of outlets for their Chinese imports.

Blue collar workers were blamed. A bull$#@! story that the banksters repeat to death to deflect from the truth. These are the same guys who created Love Canal and killed Lake Erie, the Hudson, etc. Not only are they doing it in China, that poison is actually raising air pollution on the west coast of the US.

The FedGov gave GM $40 billion and they sped off to China to build new plants there with the cash. Small business? "Use your Credit Card".

I'm still shocked at how many American know-it-alls think the "Chinese Miracle" happened using the savings of the Chinese people.

[Zippyjuan]

Cold Roll steel is no longer in use for exhaust , that has all been more expensive stainless ( lasts longer ) for years . What are auto makers using it for ?stamped body parts ?

From the article:

The ruling itself is only directed at what is a small amount of steel from China and Japan and won't have much of an impact - but it is the politics of the ruling that's worth noting.

[timosman]

bump