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US sets hefty duties on China, Mexico steel wire
March 20, 2012 / 8:02 PM / 6 years ago

US sets hefty duties on China, Mexico steel wire

WASHINGTON, March 20 (Reuters) - The United States said on Tuesday it was imposing hefty duties on imports of galvanized steel wire from Mexico and China to offset unfair pricing practices and government subsidies.

The U.S. Commerce Department announced antidumping duties ranging up to nearly 38 percent on steel wire from Mexico and up to 235 percent on steel wire from China.

It also set countervailing duties ranging from 19 percent to slightly more than 223 percent on the Chinese steel wire.

The U.S. International Trade Commission will have to vote its approval for the duties to go into force. That decision is expected in early May.

U.S. imports of steel wire totaled nearly $58 million from China and $85 million from Mexico in 2011. (Reporting By Doug Palmer)

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