US slaps China steel imports with fivefold tax increase

The US has raised its import duties on Chinese steelmakers by more than fivefold after accusing them of selling their products below market prices.

The taxes of 522% specifically apply to Chinese-made cold-rolled flat steel, which is used in car manufacturing, shipping containers and construction.

The US Commerce Department ruling comes amid heightened trade tensions between the two sides over several products, including chicken parts.

Steel is an especially sensitive issue. Read more

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