China ain't gonna back down so easily, there are no real winners in protectionist movements and in the long run its gonna hurt both side. I don't care if I offend any Americans on this board, but America is the biggest hypocrite on the planet. While America is accusing others of trade protectionism and unfair subsidies, America is providing its agricultural sector HUGE subsidies. When developing nations bring this matter up, America shrugs them off and tells them not to be so protectionist. Meanwhile, American agricultural subsidies make its farm produce cheaper than even locally grown developing nation produce, and it gives American farm exports an unfair advantage over others. This steel issue boils down to one thing -- the American steel industry isn't competitive anymore. The wages are too high, the industry is inefficient, and/or the prices are too high. Oh well. Increasing the cost of Chinese steel imports means that consumers and industries that rely on this steel will have to pay higher prices for steel. The consumer suffers again due to hypocritical trade protectionist policies by the American government. http://news.bbc.co.uk/2/hi/business/8435608.stm US votes for Chinese steel duties A Chinese worker walks past rolls of steel (file image) China is accused of unfairly subsidising steel exports A US trade commission has agreed plans to impose tariffs on imports of Chinese-made steel pipes. The US's International Trade Commission voted unanimously in favour of the tariffs, designed to offset Chinese government subsidies. Duties ranging between 10% and 15% are now set to be imposed. The move is the latest in a string of recent trade disputes between China and the US, who accuse China of using unfair subsidies and price practices. In November, the US imposed a 35% import duty on Chinese tyres, arguing that large numbers entering the US market was having a disruptive effect. The latest decision clears the way for the Commerce Department to impose the tariffs on steel piping as originally outlined in November. Steel piping is big business in the US, which imported $2.74bn of steel pipe from China last year. The pipes are used in oil wells, and have seen increased demand on the back of rising oil prices.
