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US to Sharply Lift Duty on Steel Imports.
Byline: Srisamorn Phoosuphanusorn
Mar. 6--While Washington plans hefty tariff increases on steel imports to protect its domestic industry, one of Thailand's biggest producers has forged an alliance with counterparts in Malaysia and Indonesia aimed at cutting costs and ensuring their mutual survival.
President George W. Bush has approved plans to impose tariffs of up to 40 percent on steel imports. The new tariffs and a list of the products affected are expected to be announced by the US government today.
The new tariffs are unconnected with the imposition of any anti-dumping duty imposed on allegedly underpriced or subsidised shipments.
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Source: HighBeam Research, US to Sharply Lift Duty on Steel Imports.