Facebook Twitter 新浪微博 Instagram YouTube Tuesday, Jun 28, 2016

China protests U.S. protectionism in steel

(Xinhua)    18:45, June 28, 2016

BEIJING, June 28 -- The United States should be more prudent in using trade remedy measures in the steel sector, as it hurts the interests of companies in both the United States and other countries, China's Ministry of Commerce (MOC) said on Tuesday.

On Friday, the U.S. International Trade Commission ruled that its domestic industry was "materially injured" by imports of corrosion-resistant steel products from China, India, Italy and the Republic of Korea.

In a determination last month, the U.S. Commerce Department set an anti-dumping duty rate of 209.97 percent and countervailing duty rates at at least 39.05 percent for products from China.

Friday's final ruling was the second made by the U.S. trade authority against imports of Chinese steel last week. On Wednesday, The United States decided to impose anti-dumping and countervailing duties on cold-rolled steel flat products from China.

High duties will drive the two kinds of Chinese products out of the U.S. market and hurt the interests of Chinese exporters, who have voiced their discontent, the MOC said in a statement.

China is taking and will continue to take all possible measures, including filing WTO complaints, to pursue fair treatment for Chinese enterprises and protect their interests, it said.

In the long haul, the U.S. protectionist measures will also make its own steel industry less competitive, and thus may hurt its economy, the statement warned.

The current difficulties being experienced in the steel industry around the world are the result of the global financial crisis, and resorting to frequent protectionist measures will not help resolve the issue, according to the MOC.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Bianji)

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