US imposes tariffs on China, Mexico steel

The US Commerce Department said on Wednesday it will impose tariffs on Chinese and Mexican structural steel worth 1 billion USD, saying producers in the two countries had dumped steel on the US market at prices below fair market value.

The decision follows a similar decision in June affecting Chinese aluminum imports worth 1 billion USD. The Commerce Department said it will impose tariffs of up to 141% on Chinese structural steel and up to 31% on Mexican structural steel and will begin collecting cash deposits for imports based on those rates.

Source: VOV5