On Friday, the U.S. Commerce Department announced it would impose import duties on shipments of Chinese coated paper. The move reverses a 23-year policy of not enacting tariffs on goods from nations deemed to have non-market economies. Perhaps more significantly, the decision signifies China's evolution into a developed global powerhouse -- one which is now expected to "follow the same rules" as the U.S., according to Commerce Secretary Carlos Gutierrez.
Gutierrez told CNBC's Dylan Ratigan that the decision followed a suit filed by American paper maker NewPage, which alleged unfair trade practices. The commerce chief said that after investigation, his team was able to "identify specific illegal subsidies" in this case and decided to take action.