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MOFCOM criticizes US punitive duties

CCTV.com

05-26-2016 15:40 BJT

Corrosion-resistant steel from China will face final U.S. anti-dumping and anti-subsidy duties of up to 450 percent. That's under the U.S. Commerce Department's latest clampdown on a glut of steel imports. The department on Wednesday issued anti-dumping duties of 210 percent on all Chinese-produced corrosion resistant steel.

Final anti-subsidy duties ranged from 39 percent for many producers to 241 percent for some of the largest ones including Baosteel , Hebei Iron & Steel Group and Angang Group. China's Ministry of Commerce said it was dissatisfied with the "irrational" move by the US that would harm cooperation between the two countries. The ministry said China would take all necessary steps to strive for fair treatment and to protect the Chinese companies' rights. The ministry also urged the US to strictly obey WTO rules and implement its international obligation to make contributions to the global economic recovery.

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