Back

May 3, 2021

Global Trade News: USTR Discusses Section 232 Tariffs While China Adjusts Steel Tariff Policies

 

  • Last week, the U.S. Department of Commerce announced a preliminary determination that concluded imports of aluminum foil from four countries (Armenia, Brazil, Oman, and Russia) are being dumped in the United States. The department calculated preliminary antidumping margins at 188.84 percent for Armenia; 13.87 to 63.05 percent for Brazil; 4.03 percent for Oman; and 62.18 percent for Russia. Read more here.
  • As Reuters reported, U.S. Trade Representative Katherine Tai told U.S. lawmakers last week that she is working to resolve a dispute with the European Union over the United States’ Section 232 steel and aluminum tariffs, but any solution will need to address the problem of global excess production capacity. Tai did not indicate whether the Biden administration ultimately will remove the national security tariffs, which were put in place by President Donald Trump.
  • The Chinese government announced on April 28 that it would increase taxes on steel exports and cut tariffs for ferrous imports in an effort to increase domestic supply and slow the growth of carbon emissions. China will cancel tariffs on imported billet, pig iron, crude steel, and recycled steel raw materials. It also will eliminate rebates for the 13 percent value-added tax (VAT) on steel exports, including hot-rolled coil (HRC) and rebar, that were put in place a year ago. The new policies took effect on May 1. Read more here.
  • Vietnam’s government announced last week that it has raised anti-dumping rates on some aluminum products originating from China. The penalties, which took effect on April 25, are set between 4.39 percent and 35.58 percent. The previous rates were 2.49 percent to 35.58 percent. The government did not say how long the new tariff rates would be in place. Read more from Reuters here.

To search, type what you're looking for and results will appear automatically