China condemns EU for new steel anti-dumping duties by Staff Writers Beijing (AFP) June 10, 2017
China has condemned the European Commission for imposing new anti-dumping duties on its steel products, accusing the EU's executive of making China an industrial scapegoat. The 28-nation bloc said on Friday that it would levy duties of up to 35.9 percent on Chinese hot-rolled flat steel in an attempt to create a level playing field with China as it broadens its campaign to protect Europe's struggling steel manufacturers. The EU alleged China, which makes more than half the world's steel, has flooded global markets in violation of international trade agreements. According to the EC, Chinese producers benefit from preferential lending, tax rebates and other financial help that allow exports to the EU at artificially-low prices. But China said the bloc's action stemmed from a misunderstanding of China's financial loan system and trade trends. "The European Commission ignores the fact that China's steel exports to Europe clearly declined in 2016, using China's steel overcapacity as an excuse to claim that China's hot-rolled flat steel products threaten to damage industry in the EU when that is mere speculation with little bearing on reality," Chinese commerce ministry official Wang Hejun said in a statement Friday. "China strongly questions the legitimacy and legality of the European Commission's ruling." The EU has had a series of trade disputes with China, its second-largest trading partner, but is also seeking to resolve the stand-off over steel with Beijing through the OECD, the Paris-based group of developed economies. In January, the Commission imposed anti-dumping duties on China's stainless steel tube and pipe butt-welding fittings. Like hot-rolled flat steel, the products are commonly used in shipbuilding as well as energy and construction. Wang noted that China has not only refrained from subsidising steel exports, but also adopted several measures to control them. "It is biased and unfair for Europe to blame China for its own industrial issues," he said. "Unjustified accusations and reckless trade rescue measures will not help to solve the problem."
Beijing (AFP) June 8, 2017 China on Thursday posted a forecast-busting surge in exports and imports in May, signalling improvement in the world's number two economy, but there were warnings Beijing would struggle to maintain its momentum. The readings will come as a relief after a series of weak readings suggesting a recent pick-up could be fizzling, while there are also lingering concerns about US President Donald Tr ... read more Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |