The United States on Tuesday upheld tariffs imposed last year on imports of Chinese aluminum foil valued at nearly $400 million a year, angering Beijing which vowed to hit back.

The decision intensified the mounting trade confrontation between Beijing and Washington, which is considering far-reaching duties on Chinese goods in an effort to reduce the US trade deficit.

However, the move was unrelated to the White House's imminent decision on whether to retaliate against high imports of aluminum and steel, which the Commerce Department claims are undermining US national security preparedness, with the finger pointed principally at Beijing.

The agency said Chinese manufacturers have been dumping aluminum foil into the US market at below market price, with margins between 48.6 percent and 106.9 percent. The product also benefitted from unfair subsidies at rates as high as 80.9 percent.

"This administration is committed to trade that is fair and reciprocal, and we will not allow American workers and businesses to be harmed by unfair imports," Commerce Secretary Wilbur Ross said in a statement.

"This decision comes after a transparent process with a thorough and unbiased review of the facts."

China has warned that Washington risks undermining vital trade relations by threatening to impose tariffs on its exports, with the commerce ministry voicing "strong discontent" over the action on aluminum foil.

Wang Hejun, a ministry official, said in a statement that the "unreasonable overuse of trade remedy measures by the US side" will fail to revive the country's aluminum foil industry, affect jobs in the United States and hurt consumers there.

"Regarding the wrong practices of the United States, China will take necessary measures to safeguard its own legitimate rights and interests," Wang said.

Analysts also say such actions also increase the chances of a tit-for-tat trade war.

Commerce Department investigators had reached preliminary findings in August and in October that Chinese exporters were dumping aluminum foil, worth an estimated $389 million in 2016, on the US market.

US customs authorities were instructed to collect cash deposits on imports at the time.

The independent US International Trade Commission is due to vote in April on the separate question of whether domestic industry has been harmed by the imports.

Should the ITC fail to find in the affirmative, the tariffs will be canceled. The commission rarely blocks the imposition of tariffs.

The Commerce Department claims to have launched 102 such trade cases against dumping and unfair subsidies, nearly doubling the number of actions brought by the prior administration during the same period.

Related Links
Global Trade News

Tweet

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

Germany 'watchful' of Chinese investment in Daimler
Frankfurt Am Main (AFP) Feb 26, 2018
Germany will be "especially watchful" over a new major investor in Mercedes-Benz maker Daimler, a minister said Monday, in the latest sign of European disquiet over Chinese influence over business. "We must keep an especially watchful eye" on auto billionaire Li Shufu's investment, Economy Minister Brigitte Zypries told the Stuttgarter Zeitung. Daimler confirmed Friday that Li bought a 9.69-percent stake in the Stuttgart firm worth around 7.2 billion euros ($8.9 billion), making him its weightie ... read more