China's Ministry of Commerce (Mofcom) said it would take all measures including using World Trade Organization proceedings to protect its export business, according to a translated statement on its website Tuesday, following a US move to impose duties on Chinese steel sheet.
Mofcom has issued two statements in the last week about US International Trade Commission's findings that the US was injured by imports of cold-rolled coil and corrosion-resistant sheet and products from China and other countries.
The ITC's decisions formalized antidumping duties of 209.97% and subsidy rates of 39.05-241.07% for Chinese corrosion-resistant sheet as well as 265.79% antidumping duties and 256.44% subsidy rates for Chinese cold-rolled coil.
Mofcom said the frequent use of trade protection practices was not solving global financial problems.
"Fiercer and fiercer trade protectionism can only aggravate frictions and conflicts, but help little to solve the problem," the ministry said in a statement that followed the ITC's ruling on CRC. "The Chinese side urged the US to adhere to the WTO rules, to adopt the trade remedy measures prudently and carefully and to play a positive role in promoting the US-China trade in steel products and in improving the overall trade environment."
