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November 10, 2009

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China hails US rejection of scrutiny

THE United States rejection of an anti-dumping inquiry against China-made steel fasteners was "rational," a Chinese commerce ministry official said yesterday.

An unnamed official of the Ministry of Commerce said the move by the US International Trade Commission accorded with "market reality" and was "correct," as the products made by the two countries have different target consumers, which would not encounter direct competition.

The ITC's move last Friday was a rare exception in the two countries' trade disputes as the US agency approved all the other 22 inquiries over the past three years.

The official said China hoped the US would honor its commitment made at the G-20 summit in Pittsburgh, and refrain from protectionism.

The US should make decisions according to World Trade Organization rules and market reality with objectivity and justice, the official said.

The US Department of Commerce launched dual investigations on October 14 requested by the US manufacturer Nucor Fastener, which alleged that the Chinese imports enjoy unfair price advantages.

China has suffered heavily from trade protectionism which has been rising after the outbreak of the global financial crisis, ministry spokesman Yao Jian told a forum last Saturday.

Yao said 19 economies launched 88 probes into Chinese products in the first nine months of this year, involving US$10.2 billion of exports. The two figures were up 29 percent and 125 percent respectively from the same period last year.

In the first nine months of this year, the US launched 14 probes into Chinese exports, worth US$5.8 billion, soaring 639 percent from a year earlier.


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