Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
US hits Vietnam with huge duties on steel made with Chinese material
by Staff Writers
Washington (AFP) Dec 5, 2017


The United States on Tuesday imposed huge duties on some steel imports from Vietnam, saying they were produced with Chinese material already subject to retaliatory penalties.

The products will be subject to US punitive duties of up to 265 percent of their value, the Commerce Department said in a statement, yet another in a series of aggressive trade enforcement steps by President Donald Trump's administration, many targeting China.

US imports from Vietnam have skyrocketed since the US imposed duties on the Chinese product two years ago, indicating companies are circumventing US duties by passing through Vietnam, the Commerce Department said.

The duties on the Chinese product were designed to compensate for product produced at below cost and dumped into the US market.

Since then, imports of corrosion-resistant steel from Vietnam have jumped to $80 million a year from just $2 million, while cold-rolled steel surged to $215 million from $9 million, according to the statement.

The duties imposed are a preliminary finding in the complaint filed by six US steel manufacturers, and the department will announce a final decision in February. Importers of the product from Vietnam can file for an exemption from the duties if they can prove the material used in production originated outside of China.

Washington has stepped up adversarial trade actions with China since Trump took office in January on a nationalist economic agenda, imposing duties on Chinese aluminum foil and plywood, among other goods.

Beijing reacted harshly last week after Washington opened an anti-dumping probe of Chinese common aluminum alloy sheet worth hundreds of millions of dollars annually.

The Trump administration in April also launched national security investigations into Chinese aluminum and steel imports, warning the country's overcapacity threatened to undermine producers crucial to US defense needs.

Trump also has promised to reduce bilateral trade deficits with major trading partners.

However, the Commerce Department reported earlier Tuesday that US imports of goods from China were the highest on record in October, helping drive up the bilateral trade gap by $2.1 billion to $31.9 billion for the month.

TRADE WARS
Australia casino giant Crown hit with class action over China
Sydney (AFP) Dec 4, 2017
Australian gambling giant Crown was hit with a class action Monday after 18 employees were arrested in China, alleging it did not give shareholders enough information about the risks being taken. The employees, who pleaded guilty, were held for 10 months on charges of luring rich Chinese to Australia, before being released in August. They included Jason O'Connor, the executive vice pres ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Improving sensor accuracy to prevent electrical grid overload

Japan faces challenges in cutting CO2, Moody's finds

IEA: An electrified world would cost $31B per year to achieve

'Fuel-secure' steps in Washington counterintuitive, green group says

TRADE WARS
Musk's record-breaking battery officially launches in Australia

Batteries with better performance and improved safety

Activity descriptors for electrocatalysts in energy storage applications

Statoil: Batteries can address wind power variability

TRADE WARS
U.S. wind turbines getting taller and more efficient

New wind farm in service off the British coast

End tax credits for wind energy, Tennessee Republican says

New York sets high bar for wind energy

TRADE WARS
Gore Mountain ski resort completes massive solar farm

Windows of opportunity: Solar cell with improved transparency

Burkina, France launch W.Africa's biggest solar plant

NREL develops switchable solar window

TRADE WARS
For Gabon's sickly uranium miners, a long quest for compensation

Belarus nuclear power plant stirs fears in Lithuania

Lightbridge and AREVA NP Sign Agreements to Immediately Advance Fuel Development

UK made grave errors over Hinkley nuclear project: MPs

TRADE WARS
Breakthrough process for directly converting methane to methanol

Convert methane to hydrogen without forming carbon dioxide at low-cost

Brazilian ethanol can replace 13 percent of global crude oil consumption

The water world of ancient photosynthetic organisms

TRADE WARS
Iraq says southern oil exports set a record

Oil in mid-$60 per barrel range fair, Russian company says

Texas looks to port overhaul to keep pace with oil and gas exports

Danish gas field gets new life after fate questioned

TRADE WARS
Europe backing climate ambitions with capital

Researchers pin down one source of a potent greenhouse gas

German judges agree to hear Peruvian's climate case against RWE

Canada to explore trade, climate change fight, with China




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement