China to turn to WTO over US steel decision
Print Edition
CHINA will use the World Trade Organization dispute settlement process to defend its interests over an unreasonable decision by the United States on steel subsidies, the Ministry of Commerce said yesterday.
The US had deliberately misinterpreted WTO rules after the US Commerce Department ruled in favor of anti-dumping measures for imports of stainless steel sheets from China, setting an anti-subsidy tax rate of 57.3 percent to 193.92 percent on Monday, a ministry statement said.
The US demanded that Chinese steelmakers submit non-essential materials and imposed a high tax rate by deeming all raw material providers to be public institutions, the statement added.
The US also levied high taxes on Chinese stainless steel, cold rolled steel, corrosion-resistant steel plate and other goods recently, creating a “man-made obstacle” and serving as an effective “rejection of Chinese steel products,” the statement said.
The US’ behavior is against a consensus reached by G20 commerce ministers last weekend to avoid protectionism.
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