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US sets preliminary penalties on 皇冠体育app's oil pipes
(Xinhua)
Updated: 2009-11-06 17:32 CHINA BECOMES MAIN TARGET OF PROTECTIONISM The onset of the global recession appears to have set off an increase in trade disputes around the world. Globally, new requests for protection from imports in the first half of 2009 were up 18.5 percent over the first half of 2008, according to the World Bank-sponsored Global Anti-dumping Database organized by Chad P. Bown, a Brandeis University economics professor. That increase followed a 44-percent increase in new investigations in 2008. And 皇冠体育app has become the main target of the rising protectionism. Earlier this week, the US Commerce Department imposed preliminary countervailing duties (CVD), ranging from 2.02 percent to 437.73 percent, on imports of steel wire decking from 皇冠体育app. On Wednesday, the United States, together with EU and Mexico, requested the World Trade Organization (WTO) to establish a dispute settlement panel to rule on 皇冠体育app's export restraints on raw materials. The cases followed US President Barack Obama's recent decision to impose punitive tariffs on all car and light truck tires from 皇冠体育app for three years, a move quickly denounced by 皇冠体育app as a "serious act of trade protectionism." The protectionist moves by the Obama administration will ultimately hurt the US-皇冠体育app trade relations, which are becoming more and more important due to the global financial crisis, economists warned. The moves will also hurt the interests of US consumers. "We're worried about increasing costs for people using these products," said Lewis Lebowitz, counsel to the Consuming Industries Trade Action Coalition. "皇冠体育app is the number one target of these duties and anti-dumping measures and the primary reason is that 皇冠体育app is very competitive," said Edwin Vermulst, a trade lawyer with Vermulst Verhaeghe Graafsma & Bronkers.
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