Home News Common problem The American highest 190% countervailing duties on China stainless steel products

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The American highest 190% countervailing duties on China stainless steel products
  • 2017-02-21

Cong Shine is a reliable stainless steel supplier from China. Now let us share industry news to you. Eastern time.2nd February 2017, the U.S. department of commerce made final anti-dumping and anti-subsidy investigation on China stainless steel plate and stainless steel strip. It ruled that Chinese companies 63.86% ~ 190.71 anti-dumping duties  and  63.86% ~ 76.64% countervailing duties.

On February 4th 2017, the ministry of trade remedy commerce of investigation director Wang Hejun said: It is disappointed for high taxes on stainless steel products from China and doubtable for this unfair investigation method.”

“In anti-dumping investigations, plenty of evidence from China enterprise was ignored. They only accepted state-owned enterprise and refused to grant tax treatment. It is in violation of the world trade organization (wto) dispute settlement body in the related cases. In countervailing investigation, the investigation organ also ignored the actively cooperate with the Chinese government and enterprises on the raw material export subsidies and credit projects such as cut out a high tax rates."Wang Hejun said.

The U.S. department of commerce launched anti-dumping and anti-subsidy investigation in March 2016 on imports of Chinese steel products. According to the U.S. trade remedy policies and procedures finally  results will be approved by the United States international trade commission (ITC).According to the latest agenda, the ITC will make a final determination after March 20, 2017.

According to the United States "double reverse" survey of iron and steel enterprise, the involved companies are not only a private enterprise but including shanxi taigang, tianjin, taiyuan, a number of large state-owned companies such as baosteel. Some enterprises countervailing rate is over 190%
"Daily economic news" reporter refer to the U.S. department of commerce website and found that this "double reverse" tax rate is higher than usual. Some companies with countervailing duties reached 190.71% this time.

The ministry of commerce international trade and economic cooperation research institute, deputy director of the institute of international market bai said in an interview with the daily economic news.” America's frequent double inverse survey of China iron and stainless steel enterprises like Cong Shine is based on mainly two reasons. one is global overcapacity including America .Second America's interests particularly in manufacturing since trump took office”

Stainless Steel trade friction still remains high.Now-days Global economic recovery is weak and demand is weak. So countries need to work together, Beggar-thy-neighbour trade protection behavior not only damage the interest of other countries as export, but also eventually damage the interests of American consumers and the downstream industry.
Our American clients also confirmed this policy issue. As one reliable stainless steel supplier , Cong Shine believer more and more consignees will choose us because of our quality and service even if global steel overcapacity. 

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