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Gao Huncheng: cooperation is the way out for steel trade


06-04-2016 05:46 BJT

The Chinese commerce minister Gao Hucheng said Friday in an exclusive interview with CCTV that the overuse of trade remedy measures is a wrong choice.

"Steel is a global industry chain. Overusing trade remedy measures is a very wrong choice of response. It may ease pressure for a while but it is no good for really addressing the problem of global overcapacity. China has placed an up to 25 percent export tariff on its own steel exports for several years now. In this way, it's acting responsibly, helping out with worldwide overcapacity. Because it's a global issue, the solution needs all countries working together towards a common goal," he said.

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