Used largely for walkways, platforms or flooring in factories, steel grating may not at first glance seem the kind of product capable of generating high drama in global trade. However, this week's decision by the US commerce department to set preliminary anti-dumping duties of up to 145 per cent on steel grating imported from China, to offset what it sees as unfairly low prices, could have major repercussions in broader trade terms.
The US imported about US$91 million (Dh334.2m) worth of the product from China last year, a relatively small amount, but it is emblematic of growing trade tensions with China. Washington said the grating was being sold at below-market value to gain an unfair trade advantage and accused the Chinese of so-called dumping, as it had done with other steel products. Similar tensions exist with the 27-member EU, which is China's biggest trading partner.
Both Barack Obama, the US president, and the European Commission president Jose Manuel Barroso have visited the Beijing leadership in China this year. The meetings were rendered difficult because in both cases the Asian dragon has rebuffed calls to allow its currency to rise. The Europeans and the Americans complain that China is manipulating its currency to gain an unfair trade advantage. The Chinese response has been that calls on Beijing to push up the yuan's exchange rate are unfair, especially in the context of what they describe as "brazen" protectionist measures by the West.
In the Chinese city of Nanjing for an EU-China summit last month, a clearly irritated Mr Barroso cancelled a press conference as tempers frayed over trade issues. After all, about 20 per cent of China's exports go to Europe and the EU runs a large trade deficit. In one commentary carried on the official Xinhua news agency, the US-China trade relationship was described as being like a clumsy couple dancing, close but always treading on each other's toes.
"Currently, trade and economy have apparently become the ballast and major impetus in their relations," Wang Yong, the director of the Centre of International Political Economy at Peking University, wrote in the commentary. After Mr Obama met his Chinese counterpart Hu Jintao, the upbeat wording of the communique, in which they said they were "committed to building a positive, co-operative and comprehensive China-US relationship for the 21st century", belied the stilted nature of their talk and the trade tensions boiling below.
The world has good reason to be wary of offending China, whose strength as a trading nation is growing rapidly. The Hong Kong Economic Times reported this week that China has this year replaced Germany as the world's largest exporter and Japan as the world's second-largest economy. China's full-year exports fell 16.5 per cent from last year, but the pace of decline is slower than in other big exporting nations. A glance at the figures shows China has a bigger slice of the global pie, now reckoned at 9 per cent of the world's total, up slightly from 8.86 per cent last year. This year the country also replaced the US as the world's biggest car market.
Earlier this month, the annual report of the office of the US trade representative highlighted how China had imposed more trade restrictions this year, particularly in the areas of intellectual property rights, industrial policies, trading rights and distribution services as well as agriculture. The report said how "in some areas it appears that China has yet to fully implement important commitments, and in other areas, significant questions have arisen regarding China's adherence to ongoing World Trade Organisation (WTO) obligations".
China joined the WTO in 2001, a hard-fought move that opened up scores of new markets but also required it to cut tariffs and remove barriers to free trade. While progress has been made, the US regularly complains that China is not doing enough to boost market access for goods and services from other countries and to stop rampant piracy and other breaches of intellectual property rights. Between 2001 and last year, US exports of goods to China jumped 270 per cent to $70 billion, making China the US's third-largest goods market.
While tensions with the wider world continue to simmer, China is also looking closer to home when it comes to matters of trade. Together with the Association of South East Asian Nations (ASEAN) it will establish the world's biggest free trade area (FTA) tomorrow, freeing up billions of dollars worth of trade in a market of 1.7 billion consumers. The ASEAN-China FTA will be worth as much as the EU and the North American Free Trade Agreement in terms of value, and has a greater population than those markets.
Intraregional trade has been growing at 20 per cent a year and the FTA will mean average tariffs imposed on Chinese goods by the 10 ASEAN states will fall to 0.6 per cent from 12.8 per cent. As for the dispute with the US, the commerce department said it would make its final decision on steel grating next April. "If commerce makes an affirmative final determination, and the US international trade commission makes an affirmative final determination that imports of steel grating from China materially injure or threaten material injury to the domestic industry, commerce will issue an anti-dumping duty order," it said.
At that point, steel grating will truly be one of the more controversial products in the world.
business@thenational.ae
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Living in...
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Japan 30-10 Russia
Tries: Matsushima (3), Labuschange | Golosnitsky
Conversions: Tamura, Matsuda | Kushnarev
Penalties: Tamura (2) | Kushnarev
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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Scores:
Day 4
England 290 & 346
Sri Lanka 336 & 226-7 (target 301)
Sri Lanka require another 75 runs with three wickets remaining
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
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Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
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The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
THE TWIN BIO
Their favourite city: Dubai
Their favourite food: Khaleeji
Their favourite past-time : walking on the beach
Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll
Need to know
The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours.
The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.
When to go: You can climb Kili at any time of year, but the best months to ascend are January-February and September-October. Also good are July and August, if you’re tolerant of the colder weather that winter brings.
Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.
Specs
Engine: Dual-motor all-wheel-drive electric
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The specs
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
Company%20profile
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Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
The Kingfisher Secret
Anonymous, Penguin Books
