The US has paved the way for the imposition of duties of as much as 500 per cent on Chinese cold-rolled steel, used to make cars and washing machines, as a backlash escalates against a glut of Chinese steel flooding global markets.
The US Department of Commerce said it had determined that imports of Chinese cold-rolled steel should be subject to anti-subsidy duties of 256.4 per cent and anti-dumping duties of 265.8 per cent.
Those duties could come into effect as soon as this summer if a separate review determines that the imports have caused “injury” to the US steel industry.
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