This morning in metals news, a Chinese company that makes aluminum foil is suing the U.S. over anti-dumping and countervailing duties imposed on the product, Japan is concerned about a rise in Chinese steel exports and President Trump throws another supporting tweet behind his tariffs.
Chinese Company Strikes Back at Anti-Dumping, Countervailing Duties
The subsidiary of Chinese company Shantou Wanshun Package Material Stock Co is suing the U.S. over anti-dumping and countervailing subsidy duties imposed on aluminum foil, Reuters reported.
The subsidiary, Jiangsu Zhongji Lamination Materials, was subjected to a countervailing duty of 17.14% and an anti-dumping duty of 37.99% earlier this year, according to the report.
Eyes on Chinese Steel Exports
Japan’s Iron and Steel Federation is keeping tabs on Chinese steel exports levels, particularly as U.S.-China trade relations deteriorate and, thus, could have a significant impact on the Chinese economy and steel demand within China.
“Our biggest worry is a scenario that the U.S.-China trade wars would dent China’s local demand, leading to a surge in China’s steel export,” said Koji Kakigi, the federation’s chairman, as quoted by Reuters.
Trump Praises Tariff Tool
As the Office of the United States Trade Representative kicked off public hearings on proposed Section 301 tariffs worth $16 billion, President Trump again affirmed his stance on the trade tool, tweeting “Tariffs are the greatest!” on Tuesday morning.