Domestic growth in China has slowed. Because of this sluggishness, Chinese manufacturers are dumping excess steel into the US Markets at less then production cost. Many industrialized nations have been calling foul on these tactics, and the United States has been forced to levy a 500 percent tariff on Chinese steel to protect the economy. Before the United States government took action however, a total of 21,000 jobs were lost as American steel producers struggled to compete.
China must stop dumping steel in the US markets, or face further tariffs and protective measures.
