China cries foul as U.S. slaps 522% import duties on its steel product

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Cold rolled coils in the storage yard

China has reacted angrily to a U.S. decision to impose 522 percent anti-dumping an anti-subsidy duty one of its steel product and said it was “strongly dissatisfied” with the move.

The move to impose anti dumping duties of 265.79 percent and anti subsidy duties of 256.44 percent on imports of cold-rolled flat steel used in car manufacturing, shipping containers and construction came after U.S. steelmakers accused their Chinese counterparts of dumping cheap steel into the domestic market.

The US Commerce Department ruling came as trade tensions between the two sides increased over several products, including chicken parts.

Steel is an especially sensitive issue, as US and European steel producers claim China is distorting the global market and undercutting them by dumping its excess supply abroad.

A separate filing by major US steelmakers to the International Trade Commission is looking to completely ban all Chinese steel imports.

China’s ministry of commerce (MoC) criticised the United States for adopting unfair met ods in its anti-dumping and anti-subsidy probes into Chinese products and urged theU.S. to rectify its mistakes

The US steel industry claims that around 12,000 workers have been laid off in the past year because of unfair Chinese competition.

China claims the weak economy is more responsible for the industry’s problems and that it has taken steps to reduce its steel production.

The MoC said the United States has since 2015 taken frequent trade remedy measures, trying to shift its domestic steel industry hardships abroad, violating WTO principles and disrupting the order of the steel trade.

 

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