Learned from Ministry of Commerce on Feb. 4th, that is Feb. 2nd in Washington America, Department of Commerce made a final determination about the investment on anti-dumping duty and countervailing duty at Stainless Steel Sheet/Strip from China. It’s confirmed that anti- dumping duty rate is 63.86%-76.64% and countervailing duty rate is 75.6%-190.71%.
Mr. Wang, the director of Trade Remedy Investigation Bureau, expressed disappointment at USA about continuous high taxes on Steel Products and questioned the unfair investment methods. During the anti- dumping investigation, US ignored lots of evidence materials submitted by mandatory respondents and refused to give treatment of separate rates in its capacity of state-owned enterprise, which violated the relevant cases by WTO Dispute Settlement Body. During the countervailing investigation, authority disregarded positive cooperation from Chinese government and enterprises, levied high taxes on items about raw material subsidies, export credit and so on. Stainless steel industry in China expressed strong dissatisfaction about America’s practices and decisions.
Mr. Wang pointed out the root reason of difficulties the current steel industry is facing is that the recovery of global economy is weak and the global requirement is contracting. We need to face and work it together to solve it. Trade protection act like beggar-thy-neighbour strategy not only impair legitimate import rights of other countries, but finally damage the interests of American consumers and downstream industry. China urged the US side to observe WTO rules and correct the practices. China will take necessary measures to maintain equitable rights of Chinese enterprises.