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China to tax certain steel imports July 31

Keywords: Tags  China Iron and Steel Association, Cisa, Ministry of Finance, China, tariffs, hot-rolled sheet, cold-rolled sheet, narrow strip wire rod

CHICAGO — China’s Ministry of Finance will cancel tax protections for 78 imported steel products effective July 31, the China Iron and Steel Association (Cisa) said.

Among the steel products now facing tariffs and import taxes are hot-rolled sheet, cold-rolled sheet, narrow strip, wire rod, section steel and electrical steel.

The new policies, aimed at protecting steel products that can be made in China, were issued to deal with "overcapacity conflicts" and "to create a fair market," Cisa said, adding that the measures don’t apply to orders signed before July 31 for goods to be shipped before year-end.

It wasn’t immediately clear what prompted the move.

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  • Kenn Grant
    Jul 24, 2014

    When do we start putting tariffs on all the crap and McToys they ship to North America??

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