China Applies Safeguard Measures to Five Imported Steel Products

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Last updated at: (Beijing Time) Friday, November 22, 2002

China Applies Safeguard Measures to Five Imported Steel Products

In its No 48 statement of 2002, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) Tuesday published its decision to apply final safeguard measures to part of imported steel products.

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In its No 48 statement of 2002, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) Tuesday published its decision to apply final safeguard measures to part of imported steel products.

Starting from November 20, 2002, final safeguard measures will be applied on imported hot-rolling thin plates, cold-rolling thin plates (strips), color-coated plates, silicon electrical sheets and cold-rolling stainless thin plates (strips), the announcement said, in a way of adding tariff on imported volumes beyond the quota.

The added tariff will be reduced by year, MOFTEC official said, and in the last year of safeguard measures the tariff will be less than 85 percent that of the first year. Besides, abiding by the stipulations of WTO Agreement on Safeguards, MOFTEC has on November 1 informed the WTO safeguard measure committee the investigation results on safeguard measures as well as final measures to be taken.

On April 19, 2002, the China Iron and Steel Industry Association and the nation's five major steel producers applied formally to MOFTEC for investigations on safeguard measures on imported steel products. On May 20, MOFTEC announced in its No 29 statement to conduct investigation, and application of provisional safeguard measures were announced on May 21, which started from May 24 and would last 180 days. In September two hearings were held focusing on possible damages made on the industry and concerned parties.

By PD Online Staff Li Heng

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