President Trump is authorizing a historic tariff collection on 18 countries that the administration has determined to have dumped goods into the U.S. market.
According to Fox Business:
U.S. Commerce Secretary Wilbur Ross says the U.S. will collect tariffs on $1.96 billion worth of aluminum sheet from 18 countries after determining the goods were unfairly dumped here, the broadest trade enforcement action by the agency in more than two decades.
Collection of the duties on imports from nations including Germany, Bahrain and Oman will go into effect immediately, even though the department’s determination was preliminary, Ross said. The U.S. International Trade Commission is expected to make a final determination in February 2021, he said.
“This is the largest and most far-reaching case that our department has brought in more than 20 years,” Ross said Friday morning during an interview with FOX Business’ Maria Bartiromo.
Brazil, Croatia, Egypt, Greece, India, Indonesia, Italy, Romania, Serbia, Slovenia, South Africa, South Korea, Spain, Taiwan and Turkey were also affected.
If the commission rules that the dumping wasn’t unfair the money will be returned.