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U.S. Should Resolve Trade Disputes Through Discussion, Not Protectionist Measures, Says China Official
06/03/2016 - Barring Chinese-made steel from the U.S. market would be an abuse of trade remedies, Zhu Guangyao, China’s vice minister of finance, said on Thursday, according to Xinhua, the country’s official news agency.
Zhu’s comment came in response to the U.S. International Trade Commission’s decision to undertake a Section 337 investigation into China’s largest steel producers at the behest of United States Steel Corporation.
In a complaint, the steelmaker alleges that the largest of Chinese producers have conspired to fix prices, stolen trade secrets and evaded trade duties by mislabeling products. If U. S. Steel prevails in the case, the commission could block Chinese steel imports from entering the market.
Zhu told the news agency that to resolve trade disputes, the parties should abide by World Trade Organization rules and hold discussions.
"We should oppose trade protectionism in the context of the principle of free trade, which is agreed upon by and serves the interests of both countries," said Zhu.
Xinhua has the full story here.
In a complaint, the steelmaker alleges that the largest of Chinese producers have conspired to fix prices, stolen trade secrets and evaded trade duties by mislabeling products. If U. S. Steel prevails in the case, the commission could block Chinese steel imports from entering the market.
Zhu told the news agency that to resolve trade disputes, the parties should abide by World Trade Organization rules and hold discussions.
"We should oppose trade protectionism in the context of the principle of free trade, which is agreed upon by and serves the interests of both countries," said Zhu.
Xinhua has the full story here.
