Duties slapped on US, Russia
By Wang Yanlin |
April 14, 2010, Wednesday
|
Print Edition
Print Edition
CHINA has slapped punitive duties on imports of oriented silicon electrical steel from the United States and Russia because of their dumping and subsidizing practices, the Ministry of Commerce said yesterday.
It follows the US announcement last Friday of anti-dumping tariffs ranging from 30 percent to 99 percent on more than US$1 billion worth of China-made steel pipe imports.
Yesterday's ruling said the US and Russia dumping of oriented silicon electrical steel in China had caused substantial harm to the domestic industry. Also, the US unfairly subsidized its producers, it said.
China started to collect anti-dumping tariffs of 64.8 percent from US producers and 25 percent from those in Russia on Sunday. The US producers also have to pay countervailing duties of 44.6 percent.
Two unnamed US companies which appealed during the investigation were ordered to pay anti-dumping duty of 7.8 percent and 19.9 percent, and countervailing duty of 11.7 percent and 12 percent. Two Russian companies which appealed are to pay an anti-dumping tariff of 6.3 percent.
"It is the first time for China to carry out an anti-dumping and anti-subsidy investigation," ministry officials said in a statement. "China is sticking to the principle of being fair and transparent in the investigation procedure which is properly carried out according to the law and truth."
The ruling came in tandem with the US imposition of punitive tariffs over a series of Chinese products, including steel pipes, potassium phosphate salts, coated paper, seamless steel tubes, electric blankets and wire decking.
Yao Jian, a ministry spokesman, said the US was abusing its own trade relief measures and not helping a trade imbalance between the countries.
The US is also pushing China hard to appreciate the yuan, in a bid to narrow its trade deficit with China.
Chinese Commerce Minister Chen Deming said last Saturday - when China posted its first trade deficit in six years - that the deciding factor for balance of trade was not the exchange rate, but market supply and demand, as well as open policies.
China will keep its currency basically stable after the continued improvement in balance of trade, the ministry said.
In March, China had a trade deficit of US$7.24 billion, ending a streak of surpluses since May 2004.
It follows the US announcement last Friday of anti-dumping tariffs ranging from 30 percent to 99 percent on more than US$1 billion worth of China-made steel pipe imports.
Yesterday's ruling said the US and Russia dumping of oriented silicon electrical steel in China had caused substantial harm to the domestic industry. Also, the US unfairly subsidized its producers, it said.
China started to collect anti-dumping tariffs of 64.8 percent from US producers and 25 percent from those in Russia on Sunday. The US producers also have to pay countervailing duties of 44.6 percent.
Two unnamed US companies which appealed during the investigation were ordered to pay anti-dumping duty of 7.8 percent and 19.9 percent, and countervailing duty of 11.7 percent and 12 percent. Two Russian companies which appealed are to pay an anti-dumping tariff of 6.3 percent.
"It is the first time for China to carry out an anti-dumping and anti-subsidy investigation," ministry officials said in a statement. "China is sticking to the principle of being fair and transparent in the investigation procedure which is properly carried out according to the law and truth."
The ruling came in tandem with the US imposition of punitive tariffs over a series of Chinese products, including steel pipes, potassium phosphate salts, coated paper, seamless steel tubes, electric blankets and wire decking.
Yao Jian, a ministry spokesman, said the US was abusing its own trade relief measures and not helping a trade imbalance between the countries.
The US is also pushing China hard to appreciate the yuan, in a bid to narrow its trade deficit with China.
Chinese Commerce Minister Chen Deming said last Saturday - when China posted its first trade deficit in six years - that the deciding factor for balance of trade was not the exchange rate, but market supply and demand, as well as open policies.
China will keep its currency basically stable after the continued improvement in balance of trade, the ministry said.
In March, China had a trade deficit of US$7.24 billion, ending a streak of surpluses since May 2004.
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