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Chinese Enterprises Sued by US for Steel-Dumping
Six Chinese steel product enterprises were sued by several US iron and steel companies on November 14 for dumping on steel products. The six enterprises are: Shanghai Bao Steel Corporation, Anshan Iron and Steel (Group) Co Ltd., Wuhan Iron and Steel (Group) Co Ltd., Liaoning Benxi Iron and Steel (Group) Co Ltd. and Shandong Laiwu Iron and Steel Corporation.
The US companies accused the six enterprises of dumping hot-rolled, low-carbon steel plate products in the United States below market value. But these companies did not seek anti-subsidy taxes on Chinese steel products. They also gave the list of the products under the investigation and their numbers in the tariff list.
In addition to China, Argentina, India, Indonesia, Kazakhstan, the Netherlands, Romania, South Africa, Thailand, Ukraine and Taiwan are also included in the prosecution list. The rates of dumpling differ from 13.6 percent to 548.87 percent. The dumpling rates of China are from 35.19 percent to 40.20 percent.
All of the six enterprises are China's major steel manufacturers. China will not only suffer the impact in foreign exchange losses, but also probably lose the United States as its large exporting market if the six enterprises lose the lawsuit.
Tao Jingzhou, a lawyer specializing in anti-dumping cases, urged the Chinese steel companies involved in the lawsuit to react promptly to settle the case in the early stages of the investigation. Based on experience in anti-dumping cases, Tao asserted that the early stages of an investigation are the best time to achieve reasonable results.
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