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US resumes import duty on magnesium from China
By Wang Yanlin |
February 11, 2011, Friday
|
Online Edition
Online Edition
THE United States decided to resume levying anti-dumping duty on magnesium imported from China, the US International Trade Commission said in a statement yesterday.
"Revoking the existing anti-dumping duty order on magnesium from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time," the commission said.
As a result of the commission's determination, the existing order for import duty on this product from China will remain in place, it said.
The US slapped a tariff between 49.66 percent and 141.49 percent on magnesium imported from China in April 2005.
Under the five-year (sunset) review process required by the Uruguay Round Agreement Act, tariffs must be revoked after five years unless the country deems it would continue to hurt the related industry.
In July 2010, the US Department of Commerce also decided to resume this duty.
Trade protectionism seemed to be on the rebound at the start of 2011, analysts said. On Tuesday, the commission gave a nod to the US Department of Commerce to impose anti-dumping and countervailing measures on Chinese-made drill pipes and drill collars. Chinese steel exporters face duties of up to 450 percent.
China suffered 64 trade disputes last year, involving about US$7 billion, according to the Ministry of Commerce.
China has become a major target for the United States and European countries, said Vice Minister of Commerce Zhong Shan.
"Revoking the existing anti-dumping duty order on magnesium from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time," the commission said.
As a result of the commission's determination, the existing order for import duty on this product from China will remain in place, it said.
The US slapped a tariff between 49.66 percent and 141.49 percent on magnesium imported from China in April 2005.
Under the five-year (sunset) review process required by the Uruguay Round Agreement Act, tariffs must be revoked after five years unless the country deems it would continue to hurt the related industry.
In July 2010, the US Department of Commerce also decided to resume this duty.
Trade protectionism seemed to be on the rebound at the start of 2011, analysts said. On Tuesday, the commission gave a nod to the US Department of Commerce to impose anti-dumping and countervailing measures on Chinese-made drill pipes and drill collars. Chinese steel exporters face duties of up to 450 percent.
China suffered 64 trade disputes last year, involving about US$7 billion, according to the Ministry of Commerce.
China has become a major target for the United States and European countries, said Vice Minister of Commerce Zhong Shan.
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