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Business Matters: US Raises China Steel Taxes by 522%

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US Raises China Steel Taxes by 522%

19/05/2016 GMT

BBC World Service - Business Matters, US Raises China Steel Taxes by 522%

US slaps China steel imports with a fivefold tax increase

The US has raised its import duties on Chinese steel-makers by 522% after accusing them of selling their products below market prices.

Too much steel, not enough customers. That is the problem confronting both the steel industry and governments across the world. Now China has reacted angrily, after the US imposed duties of more than 500% on Chinese imports of a particular kind of steel called cold-rolled steel. It is used for car body panels, shipping containers and in construction. We hear from Scott Paul, president of Association of American Manufacturers.

Google hosted the I/O 2016 - that is Innovation in the Open developers' conference. There was a blizzard of new stuff to think about buying. Pete Pachal, Tech Editor at Mashable tells us what caught his eye.

What do Skype, Spotify, Candy Crush and Minecraft have in common? They were all founded in the Swedish capital Stockholm, which has forged a reputation as one of Europe's leading cities for start up technology firms. But there are rumblings of discontent - because a combination of insufficient affordable housing and high taxes has led to threats that the tech types could take their business elsewhere.

It hast 20 restaurants, 23 swimming pools and a park with 52 trees. Sounds like a generously fitted out town - but in fact it is the MS Harmony of the Seas - the world's largest cruise ship. She cost an eye-popping one billion dollars to build and she is about to embark on her maiden voyage.

Presenter Fergus Nicoll is joined by Diane Brady, a media entrepreneur from New York and Simon Littlewood, president of Asia Now consulting group in Singapore.

(Photo: Molten iron at a Chinese furnace Credit: Kevin Frayer/Getty Images)

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