(Ana Swanson – Washington Post)
The United States has decided to levy an import tax on shipments of aluminum foil from China, penalizing the country for what U.S. trade officials say are unfair subsidies of its products.
It’s a decision that could add to mounting tensions between the world’s two biggest economies over trade, as the Trump administration considers a wide array of trade measures that would clamp on Chinese trade violations and the aluminum sector in particular.
A preliminary decision issued by the Commerce Department on Tuesday evening found that the products were receiving financial assistance from the Chinese government. It specifically levied “countervailing duties” on four Chinese companies, ranging from an 81 percent import tax on imports from two firms to a 17 percent tax on another. Chinese companies not specifically named face a duty of 22 percent on products they export to the U.S. market. Click here to read more.