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4/16, 8:20 PM (Source: TeleTrader)
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US introduces anti-dumping duties on Chinese steel wheels

The United States introduced new duties for Chinese importers after finding that China "has been dumping certain steel wheels" at margins ranging from 38.27% to 44.35% in the US, a statement from the Department of Commerce said on Tuesday.

The Commerce Department said it instructed US Customs and Border Protection to start collecting cash deposits for steel wheels 12 to 16.5 inches in diameter that are imported into the country from China. The move is preliminary and a final decision will be announced on or around July 2.

Earlier in the day, Director of the United States National Economic Council Larry Kudlow stated that the trade talks between China and the US are going well.

Breaking the News / VP