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Ministry says US steel industry overprotected

The Ministry of Commerce criticized a decision by the United States to impose punitive duties on Chinese steel products on Thursday, saying the US steel industry was overprotected. "China is deeply worried about the US' trade protectionism in the steel industry," the ministry said in a statement. "China believes that overprotection is the very reason US steel products are uncompetitive." The US Commerce Department ruled on Wednesday that the US industry had been "materially injured" by imports of cold-rolled steel flat products from China and Japan and it will levy anti-dumping and countervailing duties on imports of these products from China at a rate of 265.79 percent and 256.44 percent, respectively.

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