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PRESS RELEASE


China Tells West: Instead of Trade Wars over Steel, Mobilize the Economy!

Dec. 24, 2016 (EIRNS)—Chinese steel manufacturers are concerned about the policy of the European Union and the United States of using the "surrogate country system" measure in anti-dumping investigations, as a protectionist tool to restrict Chinese steel exports to the trans-Atlantic area. China has notified the secretariat of the World Trade Organization that it had requested dispute consultations with the United States and the EU regarding the special calculation methodology they use in anti-dumping proceedings.

Those countries already impose high tariffs on Chinese steel products, leading to a sharp fall in exports of China’s seamless steel pipes and tubes. The European Commission, the EU’s executive body, conducted 15 trade remedy investigations against Chinese goods between 2014 and February 2016, eight of which involved steel products.

"We are paying close attention and are worried about the tendency of the EU and United States toward steel protectionism," says Yao Lin, vice-president of Ansteel Group in Liaoning province.

"The EU has frequently resorted to restrictive measures since the start of 2016, as it blames Chinese steel products for its glutted industry,"

Yao says.

"It is groundless, as Europe’s steel woes stem from a weak economy. The EU should be rational and take an objective view, instead of adopting protectionist policies that impede competition."

Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation, the Ministry of Commerce think tank, says:

"A trade war would certainly harm all of us because it would change the method for determining a fair price. The recovery of the global economy is proving to be more complex than anticipated."