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A few weeks ago the US government slapped import duties on Chinese manufactured tires. China shot back by launching and investigation through the World Trade Organization (WTO) of US car exports to China.
Now we have round two. The US has imposed import duties of up to 99% on $2.6 billion dollars of Chinese pipe imports.
The ruling is temporary, however, US Customs will start collecting cash or bond deposits on imports. A final ruling will be made in March. Meanwhile, President Obama plans his first visit to China within a few weeks.
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