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March 2, 2017

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China slams EU’s harsh duties on steel

Source: Xinhua | March 2, 2017, Thursday | Print Edition

CHINA has expressed doubts about exorbitant tariffs imposed by the European Union on steel products from the country, calling for an end to such unfair measures.

The European Commission, the EU’s executive body, on Tuesday announced its final ruling to impose anti-dumping taxes on Chinese steel plate for a five-year period, with duties ranging between 65.1 percent and 73.7 percent.

Wang Hejun, head of the Ministry of Commerce’s trade remedy and investigation bureau, said China has grave doubts about the ruling and is highly concerned about the EU’s protectionist tendencies regarding Chinese steel products.

He said the commission’s investigation disregarded facts and materials provided by Chinese companies and continued to use the “unfair and unreasonable” surrogate country approach, seriously affecting Chinese companies’ interests.

He urged the EU to fulfill its obligations under the World Trade Organization and apply a justified and non-discriminatory approach toward Chinese companies.

A tepid economic recovery and shrinking demand are to blame for the plight faced by global steelmakers, Wang said. Countries should unite to weather hardships with solutions that benefit all. Easy reliance on protective measures will only undermine the global trade order.

Wang said China is willing to strengthen communications with the EU and work with the EU to sort out the problems faced by the steel industry.

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