China welcomes Brazil's anti-subsidy ruling on hot-rolled steel imports

BEIJING - China welcomes the decision by Brazil to refrain from anti-subsidy measures against imports of hot-rolled steel plate products, the Ministry of Commerce said in an online statement Tuesday.

The statement came after Brazil Monday put on hold anti-subsidy measures for the public interest.

China welcomed Brazil's prudent and restrained use of trade remedy measures and the positive signal the decision sent, said Wang Hejun, head of the ministry's trade remedy and investigation bureau.

Brazilian has also stopped using the "surrogate country" approach in calculating the fair value of Chinese products, and China appreciates the move.