US Slaps Fresh Duties on Steel from China, Mexico
Washington: The United States has slapped fresh duties on some Mexican and Chinese steel goods, stating those countries assisted their manufacturers with unfair subsidies.
The move came just two months after President Donald Trump agreed to lift tariffs on steel and aluminium from Mexico and Canada after the three nations agreed on a revised North American free trade pact, media reports stated.
The action was in response to a grievance lodged in February by US steel producers.
In its preliminary findings, US Commerce Department found Mexican and Chinese exporters of fabricated structural steel benefitted from subsidies ranging from 30 percent to 177 percent.
US customs agents will begin collecting import duties based on the subsidy rates, but the funds could be returned if officials later reverse the finding, Commerce Department said in a statement.
Notably, the US last year announced global tariffs of 25 percent on steel and 10 percent on aluminium but in May agreed to lift them for Mexican and Canada.