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The U.S. International Trade Commission's decision favoring domestic steelmakers over Chinese exporters escalated a trade war that will likely extend into 2010. The ITC ruling upholds preliminary action that the Commerce Department took to impose compensatory trade penalties of 10.4% to 15.8% on Chinese-made steel tube exports, which totaled $2.7B in 2008. This action is similar to penalties the European Union's 27 member states imposed on China last July.

In response, the Chinese Ministry of Commerce swiftly stated that it was "strongly dissatisfied with and resolutely opposed" to the vote. China contends that it's the global financial crisis and drop in demand for oil, not Chinese policies, that are primarily to blame. While the ministry made no mention of tit-for-tat actions against U.S. products, you can expect to hear something quickly in 2010.

U.S. companies and unions brought about a dozen trade cases against China in 2009, all alleging government subsidies and unfair pricing practices. On December 18, the ITC made a preliminary determination that China has been dumping pre-stressed steel wire strand used in concrete. On December 29, it made a similar determination about Chinese-made steel grating.

A November decision concerned welded-wire rack decking, a product used in industrial and other commercial storage rack systems. U.S. companies imported an estimated $317M of such decking in 2008, an increase of 49% from 2006.

Read the full story at dailyfinance.com.

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