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2012, Feb 09

U.S. Cuts Chinese-Pipe Tariffs to 13.2%

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U.S. Cuts Chinese-Pipe Tariffs to 13.2%

by CFO Innovation Staff, 25 November 2009
topics:
Tax
tags:
import duties tariffs U.S. Commerce Department
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The average duties on $2.7 billion of steel-pipe imports from China have been reduced from 21.3% to 13.2% by the U.S. Commerce Department, says Bloomberg.

 

The duties, imposed to counter Chinese government loans, tax breaks and other subsidies, will range from 10.36% to 15.78%, says the agency in a statement e-mailed to Bloomberg. Bloomberg says the agency didn’t explain why the duties were reduced.

 

According to Bloomberg, the tariffs have been a point of tension between the two nations since President Barack Obama in September imposed tariffs on tire imports from China. Obama, during a visit to Beijing Nov. 17, pledged along with President Hu Jintao to work on easing “trade frictions” and “oppose and reject protectionism in all its manifestations.”

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