/ world today news/ The US has increased import duties on Chinese steel producers more than five times – by 522%, after accusing the people of Beijing of selling their production below the market price.
The measure specifically applies to Chinese production of cold-rolled flat steel, which is used in the manufacture of cars, shipping containers and in construction.
The US Commerce Department’s decision comes amid heightened trade tensions between the two countries over several products, including the chicken trade.
Steel is a particularly tort issue, as US and European steelmakers accuse China of distorting world markets and undercutting their prices by offering their output at dumped prices.
Washington / USA
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