While we wait for news on coated free sheet duties, trade relations between the U.S. and China are deteriorating. See the passages that follow and the articles available for you. First, the U.S. imposes new tariffs. Full story here.
The US Department of Commerce imposed tariffs on oil country tubular goods (OCTG) imported from China after determining they were being sold in the US at margins ranging from 29.94% to 99.14%. ..A second antidumping petition involving Chinese drillpipe imports is still pending before the ITC, noted Brian T. Petty, executive vice-president for government affairs at the International Association of Drilling Contractors.
The oil and natural gas drilling companies are none too happy.
“It’s a sad day for end users in the US. The price increase is going to be passed on to producers, and it subsequently will go down to the retail energy customers,”…
LLP’s Washington office who will be addressing IADC’s onshore drilling conference May 20 in Houston, confirmed the ruling’s bigger question is its potential impact on domestic oil and gas production. “By imposing tariffs of potentially prohibitive proportions, is the US consigning itself to a shortage of pipe necessary to produce more domestic oil and gas?
Shortly after this development, China made an announcement. Full story here.
China said on April 13 it has imposed duties on a common electrical steel made in the United States and Russia, in apparent retaliation for Washington’s recent decision to slap tariffs on Chinese pipes…
The commerce ministry ruled that the United States and Russia sold the grain-oriented electrical steel, which is widely used in the power industry, at less than normal value. Importers of the steel will have to pay an anti-dumping tax of up to 64.8% on products from the United States and up to 24% on those from Russia, the commerce ministry said. China also will charge a countervailing tax of up to 44.6% after an investigation found U.S. companies received government subsidies on grain-oriented electrical steel.