US protectionist measures slammed
Print Edition
THE United States should be more prudent in using trade remedy measures in the steel sector, as it hurts the interests of companies in both the United States and other countries, China’s Ministry of Commerce said yesterday.
On Friday, the US International Trade Commission ruled that its domestic industry was “materially injured” by imports of corrosion-resistant steel products from China, India, Italy and South Korea.
Last month, the US Commerce Department set an anti-dumping duty rate of 209.97 percent and countervailing duty rates of at least 39.05 percent for products from China.
Friday’s final ruling was the second made by the US trade authority against imports of Chinese steel last week. On Wednesday, the US decided to impose anti-dumping and countervailing duties on cold-rolled steel flat products from China.
High duties will drive the two kinds of Chinese products out of the US market and hurt the interests of Chinese exporters, who have voiced their discontent, the MOC said.
China is taking, and will continue to take, all possible measures, including filing WTO complaints, to pursue fair treatment for Chinese enterprises and protect their interests, it said.
In the long haul, the US protectionist measures will also make its own steel industry less competitive, and thus may hurt its economy, the statement warned.
The current difficulties being experienced in the steel industry around the world are the result of the global financial crisis, and resorting to frequent protectionist measures will not help resolve the issue, the MOC said.
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