Growing Gains: Georgetown Steel and Subsidy Exemptions (International Trade‪)‬

The past few years have seen an explosion in privately and publicly expressed concern over the surging US imports from, and trade deficit with, China. The resulting political pressure, fueled by the US manufacturing sector's well-documented troubles, is so intense that earnest discussions have begun both inside and outside the government over whether the current arsenal of trade remedy tools is adequate, and in particular over whether there should be a readily usable import remedy (compensation to domestic producers) against Chinese goods that benefit from subsidies. Senior officials in the administration of US President George W. Bush have hinted at a review taking place within the US Department of Commerce (DoC), which administers the principal US trade remedy laws. The review addresses whether the countervailing duty (CVD) remedy (a border tax imposed on injurious, subsidized imports) should be made applicable to goods imported from non-market economies (NMEs) like China. [ILLUSTRATION OMITTED]