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US imposes 266% duty on imports of steel from China

Producers in China and six other countries sold cold-rolled steel at unfairly low prices in the US market and will be taxed as much as 266% on the price, the Commerce Department said in a preliminary decision on Tuesday.

The government imposed tariffs of 266% on imports from China, with goods from Brazil, India, South Korea, Russia, Japan and the UK also subject to duties. Shipments from Brazil will face 39% penalties, and South Korean producers will face taxes of as much as 6.9%.

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