The United States is imposing new tariffs on $1.96 billion worth of aluminum sheet products from 18 countries after determining that the goods were being dumped, US Commerce Secretary Wilbur Ross said on Friday.
The tariffs were being immediately imposed on countries including Germany and Bahrain, even though the department's determination that there was dumping was preliminary, he told Fox Business Network.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Brazil, Croatia, Egypt, Greece, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan and Turkey were also affected, he said.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Mr Ross said the US International Trade Commission would make the final determination in February 2021.
He said China was not on the list, adding US tariffs had already been imposed on Beijing's aluminum products, which led to Chinese excess capacity that displaced production in other countries and resulted in dumping in the United States.
The tariff rate would be largest against Germany with 52 per cent to 132 per cent followed by Bahrain with rates in single digits, Mr Ross said.
He said a rise in US consumption of certain products amid the pandemic, such as recreational vehicles and boats, increased the importance of aluminum sheet pricing.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
