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US panel OKs duties on another China steel product1
2010-6-17 20:32:24

* US steel cases against China have risen in recent years

* Two senators press for currency decision in paper case

By Doug Palmer

WASHINGTON, June 10 (Reuters) - A U.S. trade panel gave final approval on Thursday to combined duties of more than 200 percent on a steel wire product from China, as trade tensions between the two countries began heating up again.

The U.S. International Trade Commission voted 6-0 to allow the U.S. Commerce Department to impose final anti-dumping and countervailing duties on the imports, which climbed to $178 million in 2008 before falling to $13 million last year.

The trade panel said there was ample evidence that U.S. producers have been materially injured by imports of concrete steel wire strand subsidized by the Chinese government and sold in the United States at less than fair value.

The vote came the same day that U.S. Treasury Secretary Timothy Geithner was pressed by members of the Senate Finance Committee to get tougher with China on issues ranging from currency manipulation to copyright piracy.

"At what point will we take stronger action?," asked Senator Ron Wyden, an Oregon Democrat, who accused the Chinese government of "slow dancing" the U.S. government and never delivering on promised reforms.

The ITC decision was a victory for U.S. companies American Spring Wire Corp, Insteel Wire Products Company, and Sumiden Wire Products Corp, which filed a petition last year against for protection against unfair Chinese competition. 

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