Now for an update on the trade dispute between China and the US. The US Commerce Department decided Tuesday to levy import duties of 522 percent on Chinese cold-rolled flat steel. The Commerce Department said it found these products were sold in the US market below cost and with unfair subsidies. The duties comprise 266-percent anti-dumping duties and 256-percent anti-subsidy duties.

The original complaint was filed in July 2015 by major US producers. The Commerce Department also levied final anti-dumping duties against Japanese-made cold-rolled steel of a much lower 71 percent.