On Friday, the Commerce Department imposed penalties of up-to a whopping 99% on all imports of Chinese oil field pipes, a development which has come as the latest in a growing list of duties that are being slapped on Chinese makes are the authorities feel are unfairly priced.

Based on the total value of all the imports involved, which was some $2.7 Billion in 2008, although the number managed to fall to less than 50% of that during the last year, the penalty has come as one of the biggest ever "dumping" decisions against products from China and adds to what has continued to be a "tit-for-tat" trade fight between the two major nations over goods like tires, chickens, paper, etc.

The decision from the Commerce Department has come right when the top American and Chinese officials are working towards smoothing out these and other recent tensions that have cropped up between the two nations.

About a year back, a group of US companies and labor organizations, which included US Steel and the United Steelworkers union, had sent in a complaint about the issue, in which the firms and groups alleged that some Chinese companies are selling "oil country tubular goods" below market value.

"China's government and exporters are being told we are fed up with their cheating on our fair trade laws. Penalties for these transgressions are long overdue", said Steelworkers union president Leo W. Gerard while cheering the decision.