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U.S. Imposes Duties On Mexican And Chinese Steel

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The US government has imposed new duties on imports of fabricated structural steel from Mexico and China over unfair subsidies.

Monday, the U.S. Department of Commerce announced its decision in the countervailing duty (CVD) investigations of imports of fabricated structural steel from Canada, China, and Mexico.

The investigations found that steel exporters from China received unfair subsidies at rates ranging from 30.30 to 177.43 percent, and manufacturers in Mexico received unfair subsidies up to 74.01 percent.

Canada was spared from duties because exporters in that country received subsidies at negligible levels, ranging from 0.12 to 0.45 percent.

The Department of Commerce said in a statement that it will instruct U.S. Customs and Border Protection to collect cash deposits from Chinese and Mexican importers of fabricated structural steel.

According to the Commerce Department, the US imported fabricated structural steel from Canada, China, and Mexico at an estimated value of $722.5 million, $897.5 million, and $622.4 million, respectively.

Commerce Department launched the investigation based on a petition by the American Institute of Steel Construction Full Member Subgroup.

In all, the Trump Administration has initiated 172 anti-dumping and countervailing duty investigations, which is a 219 percent increase from the time of the Obama administration.

This is the latest in the Trump administration's trade war with China, but the action against Mexico was a bit surprising as it comes within weeks of the Mexican parliament ratifying the tri-lateral North American trade agreement.

The Mexican Senate passed the United States-Mexico-Canada Agreement (USMCA) with overwhelming support last month.

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