The first case! Chinese steel producers successfully reduce US compensatory tariffs
Date：2018-12-14 02:32:04 Visit：1781
Russian media said that Chinese steel producer Tiangong International disclosed that it would appeal the tariffs imposed by the United States. In August this year, the company has tried to reduce the compensatory tariffs imposed by the United States on the company's products to one-tenth of the previous one. After setting a precedent, Tiangong International Co., Ltd. is looking forward to further combating the US's bargaining tariffs and setting an example for other Chinese companies.
Russian satellite network reported on December 11 that as early as January 2017, China Tiangong International Co., Ltd. encountered US tariff issues. At the time, two tariffs were imposed: compensatory tariffs – 251% and anti-dumping tariffs – 68.27%.
Both tariffs were levied on the basis of a survey initiated by the US Department of Trade on the basis of Section 213 of the Trade Expansion Act of 1962. Article 223 allows the President of the United States to impose or maintain restrictions on imported foreign products based on national security considerations.
According to the report, the US Department of Trade concluded that the value of Chinese steel was seriously undervalued, which caused losses to US steel producers.
Tiangong International Co., Ltd. pointed out that the high-speed steel and high-speed steel cutting tool products they manufacture are rare competitors, especially in the US market. Therefore, the company appealed to the US Department of Trade. The U.S. Department of Trade sent the company a list of specific questions that needed to be answered, and the response needed to be confirmed by the document. Tiangong International Co., Ltd. was qualified for the task, and the compensatory tariff rate was reduced from 251% to 24%. This is the first case in which a Chinese company successfully challenged the resolution of the US Department of Trade.
According to the report, Tiangong International Co., Ltd. does not intend to stop here, but also wants to appeal against anti-dumping duties.
According to China International Television (CGTN), quoted by Zhu Xiaokun, chairman of Tiangong International Co., Ltd., Tiangong International Co., Ltd. is a private company that is not subsidized by the state. Therefore, the price of the product is determined only by the company's own innovation achievements. There may be any anti-dumping issues.
Russian satellite network reported on December 11 that as early as January 2017, China Tiangong International Co., Ltd. encountered US tariff issues. At the time, two tariffs were imposed: compensatory tariffs – 251% and anti-dumping tariffs – 68.27%.
Both tariffs were levied on the basis of a survey initiated by the US Department of Trade on the basis of Section 213 of the Trade Expansion Act of 1962. Article 223 allows the President of the United States to impose or maintain restrictions on imported foreign products based on national security considerations.
According to the report, the US Department of Trade concluded that the value of Chinese steel was seriously undervalued, which caused losses to US steel producers.
Tiangong International Co., Ltd. pointed out that the high-speed steel and high-speed steel cutting tool products they manufacture are rare competitors, especially in the US market. Therefore, the company appealed to the US Department of Trade. The U.S. Department of Trade sent the company a list of specific questions that needed to be answered, and the response needed to be confirmed by the document. Tiangong International Co., Ltd. was qualified for the task, and the compensatory tariff rate was reduced from 251% to 24%. This is the first case in which a Chinese company successfully challenged the resolution of the US Department of Trade.
According to the report, Tiangong International Co., Ltd. does not intend to stop here, but also wants to appeal against anti-dumping duties.
According to China International Television (CGTN), quoted by Zhu Xiaokun, chairman of Tiangong International Co., Ltd., Tiangong International Co., Ltd. is a private company that is not subsidized by the state. Therefore, the price of the product is determined only by the company's own innovation achievements. There may be any anti-dumping issues.
