This morning in metals news, the U.S. Department of Commerce kicks off a new anti-dumping and countervailing duty probe, China urges the U.S. to exercise restraint when it comes to tariffs on steel imports and President Trump plans to meet with lawmakers to discuss tariffs on metals.
New DOC Investigation Targets Pipe From Six Nations
The Department of Commerce today announced the initiation of an anti-dumping and countervailing duty investigation of large diameter welded pipe from Canada, Greece, China, India, Korea and Turkey.
“With an 81 percent increase in trade cases initiated since President Trump took office, this Administration has made it clear that we will vigorously administer antidumping and countervailing duty laws,” Secretary of Commerce Wilbur Ross said in a release. “When initiating a trade investigation, the Department of Commerce begins an open and transparent process that allows American companies and workers to gain relief from the market-distorting effects of injurious dumping and subsidization of imports.”
China Warns on Possible U.S. Tariffs
Chinese official on Tuesday urged the U.S. to show restraint when it comes to tariffs on steel, according to a Reuters report.
The official, Wang Hejun, who heads the Chinese Ministry of Commerce’s Trade Remedy and Investigation Bureau, said that protectionism would lead to a “vicious circle” of trade actions, according to the report.
Trump to Meet with Lawmakers to Talk Trade Tariffs
President Trump today is meeting with lawmakers to discuss potential tariffs on steel and aluminum imports and other trade issues, according to Bloomberg.
Secretary of Commerce Wilbur Ross sent Trump his Section 232 recommendations for steel and aluminum last month. As of receipt of the reports, the president has 90 days to decide what to do.