Zeev's Turnips Patch-No Politics (ZEEV)

[marketmaven]

Greeniespam Trade War Underway - China slaps tariffs on steel imports

Wednesday 14 January 2004,
China has slapped tariffs up to 55% on cold-rolled steel imports from Russia, South Korea, Ukraine, Kazakhstan and Taiwan because they have hurt domestic producers. The tariffs would go into effect immediately, the Chinese commerce ministry said in a statement on its website."The ministry has decided that dumping of such products does exist, and has caused substantial damage," the ministry said. The tariffs would last for five years from 23 September 2003, when China decided to impose anti-dumping measures against cold-rolled steel imports from the four countries and Taiwan, the ministry said. China launched an anti-dumping probe into cold-rolled steel imports in March 2002, shortly after the United States slapped hefty tariffs on a range of steel imports to aid its financially troubled steel industry.