Hunan Gold shares surge after large deposit found in China
The Geological Bureau of Hunan Province said on Thursday that it had detected more than 40 gold veins containing an estimated 300 tons of the precious metal.
WASHINGTON – The U.S. Commerce Department has found China unfairly subsidized steel wheels exported to the United States and sold them at prices below fair value, the department announced on Friday in its final determination.
If the U.S. International Trade Commission issues a final finding that U.S. producers are being harmed, then tariffs on the products will go into effect for five years.
The United States made its initial determination in October. It opened the investigation after receiving complaints from Accuride Corporation of Evansville, Indiana, and Maxion Wheels Akron LLC of Akron, Ohio.
U.S. imports of steel wheels from China were valued at $388 million in 2017, the Commerce Department said.
The department’s finding comes on the eve of the latest trade talks between U.S. and Chinese negotiators seeking to ease eight months of tensions between the globe’s two largest economies.
(Reporting by Makini Brice; Editing by David Alexander and Tom Brown)
