US slaps China steel imports with five-fold tax increase

BBC, May 18: The US has raised its import duties on Chinese steelmakers by more than five-fold after accusing them of selling their products below market prices.

The taxes 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.

US and European steel producers claim China is distorting the global market and undercutting them by dumping its excess supply abroad.