Business / Industries

US decide to levy punitive duties on corrosion-resistant steel products from China

(Xinhua) Updated: 2016-06-25 15:05

WASHINGTON - The US trade authority ruled Friday that the domestic industry is "materially injured" by imports of corrosion-resistant steel products from China, India, Italy and the Republic of Korea, which means the US government will impose punitive duties on the products.

All six commissioners of the US International Trade Commission (USITC) voted in the affirmative, saying a US industry is materially injured by reason of imports of corrosion-resistant steel products from above countries that are allegedly subsidized and sold in the United States at less than fair value.

"The US steel industry has been in a state of overprotection," said an official from the Chinese Ministry of Commerce on Thursday, pointing out the United States has conducted a total of 161 trade remedy rulings on various steel products worldwide by the end of April 2016.

As a result of the Commission's affirmative determinations, the US Commerce Department will issue antidumping and countervailing duty orders on imports of these products from China.

For products from China the antidumping duty rate is 209.97 percent and the countervailing duty rates are 39.05 percent and 241.07 percent, according to the Commerce Department's final determination in May 2016.

This is the second final ruling made by the US trade authority against imports of China's steel products this week. On Wednesday the USITC made a final ruling to allow the Commerce Department to impose antidumping and countervailing duty on imports of cold-rolled steel flat products from China.

In 2015, imports of these products from China under investigation were estimated at about $500.3 million, according to US official data.

China has repeatedly urged the United States to abide by its commitment against trade protectionism and work together with China and other members of the international community to maintain a free, open and just international trade environment.

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