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March 6, 2017

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China says US steel ruling ‘groundless’

A Chinese commerce ministry official has rejected a recent US ruling on Chinese steel product imports as “groundless.”

In the ruling, the United States declared that stainless steel sheet and strip imports from China are subsidized and sold in the US at less than fair value.

The US failed to take into consideration the evidence and documents provided by Chinese manufacturers, and its ruling is against the facts, said Wang Hejun, head of the Ministry of Commerce’s trade remedy and investigation bureau.

The US International Trade Commission said on Friday that it had determined that US industry is materially harmed by imports of stainless steel sheet and strip from China.

Difficulties facing the US steel industry mainly stem from its outdated equipment and low efficiency and are thus not related to products China has sold in the country, Wang said.

During the investigation, demand for Chinese-made stainless steel sheet and strip grew, and imports from China have actually helped meet the rising demand, Wang added.

China and the US are complementary in their steel trade, and China not only exports steel products to the country but also imports US-made steel products, Wang said.

China urges the US to make an objective and fair ruling to avoid negatively affecting the normal economic and trade relations between the two countries, Wang added.

Chinese exporters suffered a total of 20 trade remedy probes initiated by the US involving US$3.7 billion last year, up 81.1 percent and 131 percent from a year earlier respectively, the ministry said in February.


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