(Randy Woods – Bloomberg)
The U.S. imposed duties on imports of aluminum foil from China, ratcheting up trade tensions between the world’s largest economies before President Donald Trump’s visit to Beijing next month.
The Commerce Department said Friday it would impose preliminary import duties in the range of 96.81 percent to 162.24 percent on Chinese aluminum foil, saying the goods are being sold at unfairly low prices. China disagreed with the U.S. move.
In August, Commerce imposed preliminary duties on Chinese aluminum foil, ranging from 16.56 percent to 80.97 percent, citing state subsidies for the domestic industry that disadvantage American products.
The move indicates that the Trump administration intends to keep up the pressure on China as its efforts to shrink America’s trade deficit have seen little success. Click here to read more.