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U.S. Imposes Tariffs On Tin Mill Steel From Canada

The U.S. Commerce Department is imposing preliminary anti-dumping duties on tin-plated steel imports from Canada, as well as Germany and China.

The U.S. government said the highest anti-dumping duties of 122.5% will be imposed on tin mill steel imported from China, including on that country's largest producer, Baoshan Iron and Steel.

The U.S. is imposing preliminary duties of 7.02% on tin mill imports from German producers, including Thyssenkrupp (TKAM), and 5.29% on imports from Canadian producers, including ArcelorMittal Dofasco (MT).

The U.S. Commerce Department said it is sparing five other countries in a decision that drew some relief from food can manufacturers that had feared higher and more widespread tariffs.

No duties will be imposed on the metal that is widely used in cans for food, paint and aerosol products imported from the United Kingdom, the Netherlands, South Korea, Taiwan and Turkey.

A Commerce Department official told reporters during a press conference that producers in Canada, Germany and China were found to be selling tin mill steel at prices below those in their home markets.

The tariffs case was initiated in February of this year following a complaint from U.S. steelmaker Cleveland-Cliffs (CLF) that alleged foreign dumping in the tin-plate sector.

Trade group the Can Manufacturers Institute has warned that new import duties will lead to higher material costs and food prices for Americans at a time when inflation is elevated.

However, the duties were significantly less than initially feared. And the five countries that escaped duties account for about half of U.S. tin mill steel imports.

China accounts for about 14% of tin mill steel imports in America, while Canada and Germany account for a combined 30%, the Commerce Department said.