Business / Industries

China to resort to WTO over unreasonable US decision on steel subsidy

(Xinhua) Updated: 2016-07-14 10:15

BEIJING -- China will use the World Trade Organization (WTO) dispute settlement process to defend its interests over an unreasonable decision by America on steel subsidies, the Ministry of Commerce (MOC) said Wednesday.

The United States had deliberately misinterpreted WTO rules after the US Commerce Department ruled in favor of anti-dumping measures for imports of stainless steel sheets from China, setting an anti-subsidy tax rate of 57.3 percent to 193.92 percent on Monday, according to a MOC statement.

The US demanded that the Chinese steel maker submit non-essential materials, such as CPC member ID and credentials, and imposed a high tax rate by deeming all raw material providers to be public institutions, the statement added.

The US also levied high taxes on Chinese stainless steel, cold rolled steel, corrosion-resistant steel plate and other goods recently, creating as a "man-made obstacle" and serving as an effective "rejection of Chinese steel products," the statement pointed out.

The Unite States' behavior is counter to a consensus reached by the commerce ministers of G20 members last weekend to avoid protectionism. Thus, China called on the US to behave in line with WTO rules and work for a fairer global trade environment, according to the statement.

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