Reuters reported the U.S. put hefty punitive duties on imports of steel wheels from China today. The government says the Chinese are dumping wheels that are unfairly priced and government-subsidized.
In the latest sign that trade tensions between the world’s two biggest economies are ramping up, the Commerce Department said Chinese producers were selling the steel wheels at prices 44.96 percent to 193.54 percent below fair value and were getting subsidies ranging from 25.66 percent to 38.32 percent of the value of the wheels.
The United States imported more than $84 million in steel wheels from China last year.
The new duties are will help Accuride Corporation and Hayes Lemmerz International Inc. Both companies filed petitions last year asking for U.S. government intervention. They are among dozens of cases filed by U.S. manufacturers have filed dozens of unfair trade cases against China in recent years.