Well, the tire tax didn't do it, so Obama is trying again. As a friend asked me a while ago: what would Obama do differently if he were trying to weaken the United States? Maybe Biden really does want the economy to be this bad, as he claimed recently.

China has this to say on the matter:

China resolutely opposes U.S. move to start anti-dumping and anti-subsidy investigations into seamless steel pipes imported from China, the Ministry of Commerce(MOC) said. The current hardships facing the U.S. steel industry was because consumption and demand waned after the financial crisis. "Blindly blaming Chinese imports of dumping or subsidies is lack of factual bases, which China strongly opposes," MOC announced in a statement on its website Saturday... the U.S. Steel Corporation, V&M Star LP, TMK IPSCO and the United Steelworkers (USW). The U.S. petitioners requested a 98.37-percent anti-dumping duty against the Chinese imports... The case was the seventh such investigations this year launched by the U.S. Department of Commerce against Chinese imports that included claims of both dumping and subsidies, MOC said. Resorting to trade protectionism would not solve the real problem, instead it would hurt the interests of U.S. downstream steel businesses as well as bilateral trade, it said.
Obama has already shown that he'd rather side with his trade union backers at the expense of the United States, so let's just hope (against hope) that Obama might act, well, presidential, on this one, instead of like a "community organizer".