China Warns U.S. on Steel Dispute
07/06/2010 12:00
BEIJING --China lashed out at the U.S. over a final decision to slap duties on imports of Chinese steel gratings, warning that the rising number of U.S.-initiated trade disputes against Beijing hurts economic ties between the two powers.
"The Chinese government and industry cannot accept this," the Ministry of Commerce said in a statement issued on its website late Wednesday, referring to what it said was an incorrect investigation conducted by the U.S.
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It urged the U.S. to practice restraint in resorting to such trade remedies and called on it to oppose protectionism.
The response came after the U.S. Commerce Department announced a final decision Tuesday to impose duties against some steel grating imports from China, setting countervailing duties at 62.46% and antidumping duties ranging between 136.76% and 145.18%.
Steel gratings are typically used for walkways and flooring.
The denouncement from China, which is not unusual when it comes to reacting to such trade actions, comes just a week after the two economic powers concluded high-level strategic and economic talks that offered few major concessions, but were hailed for their progress in improving ties.
The ministry said China was dissatisfied, and opposed to the move by the U.S. on steel gratings. The investigation and methodology used to calculate the duties by the U.S. weren't fair, and led to an increase in the duty rates, it said.
The U.S. has begun antidumping and antisubsidy probes on 25 cases against goods that China exports, it said.
Last year there was a sharp rise in trade remedy cases brought against China by the U.S., the ministry said, adding that such actions harm China's interest and affect bilateral economic ties negatively.
The duties will go into effect if the U.S. International Trade Commission finds that domestic manufacturers of the gratings are materially threatened by the imports. A decision is expected from the independent panel next month.
By J.R. WU
JUNE 3, 2010, 3:00 P.M. ET
Source: online.wsj.com
JUNE 3, 2010, 3:00 P.M. ET
Source: online.wsj.com
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