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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 379.91+0.4%Nov 11 4:00 PM EST
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To: TobagoJack who wrote (163598)12/26/2020 6:42:47 AM
From: Snowshoe  Read Replies (3) of 217693
 
re "U.S.-China Trade War Gets Wrapped Up in Twist-Ties"

Status update ...

U.S. Puts Tariffs on Chinese Twist-Ties
Commerce Department rules that China manipulated its currency to boost its sales of plastic ties
wsj.com

Nov. 25, 2020 1:37 pm ET

WASHINGTON—The Trump administration has imposed a small but groundbreaking set of tariffs, penalizing Chinese twist-ties on grounds that Beijing undervalued its currency to gain market share for the products.

While the tariffs apply only to twist-ties, the ruling by the Commerce Department Tuesday could potentially set a precedent for other companies that competed with Chinese imports to seek tariffs against their competitors’ products.

“The Department of Commerce will continue to use the legal tools at our disposal to aggressively counter currency undervaluation and other unfair subsidies, further ensuring a level playing field for American businesses and workers,” said Commerce Secretary Wilbur Ross.

The decision was made in a case filed by twist-tie maker Bedford Industries Inc. of Worthington, Minn., with the Commerce Department and the International Trade Commission. It claimed that Chinese competitors were dumping twist-ties in the U.S. at impossibly low prices.

In Tuesday’s action, the Commerce Department ruled in Bedford’s favor and moved to impose tariffs of 122.5% on twist-ties from China.
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