US imposes 266% tariff on Chinese steel imports in dumping case

The US Commerce Department has imposed a tariff of 266% on cold-rolled steel from China in response to what it has ruled to be unfairly low prices, Bloomberg reported, citing a preliminary decision from the regulator. The measure, which also slaps tariffs of varying levels on steel from six other countries, marks the second time since December the US government has penalized China and other steel producers for dumping inventory. American producers have filed cases against foreign producers for four varieties of steel products, but the duties imposed to date for countries besides China have fallen far short of matching the alleged levels of dumping.