Nation rolls out steel tax on US
By Ding Qingfen | China Daily | Updated: 2009-12-11 07:51
China, the world's largest maker and consumer of steel products, fired back yesterday at the United States for its anti-dumping measures against Chinese steel exports, launching its own punitive taxes on steel from US as well as Russia.
The Ministry of Commerce said yesterday on its website that US and Russian steelmakers must pay anti-dumping duties as high as 25 percent beginning today. The US steel industry must also tack on a 12 percent tax when it exports its products to China.
The announcement comes after a series of damaging measures against Chinese steel exports launched by the US and Europe in recent months. China's provisional duties will hurt steel exporters from the US and Russia, said a Chinese steel expert.
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