China objects to India’s anti-dumping on steel
The Dollar Business Bureau
China has expressed concerns over India launching an anti-dumping investigation against Chinese steel products. The Chinese Ministry of Commerce said it seeks a fair and transparent investigation in accordance with WTO rules.
The state-run Xinhua news agency, citing the Chinese Ministry of Commerce, said China is highly concerned by Indian trade remedy measures against Chinese steel products.
The world’s largest steel manufacturer said excess steel output is a global challenge, and countries should face it up, rather than coming up with up harsh trade-remedy measures. It underlined that the two countries, India and China, should properly handle trade frictions.
Though not for the first time, India had once again announced an anti-dumping probe in April into hot-rolled steel coils shipped from China.
This was the fourth such anti-dumping investigation against China.
In December last year, India had imposed anti-dumping duty, in the range of 5% to 57%, on shipments of cold rolled steel from China, South Africa, Taiwan, Thailand and the US to curb excess imports.
Imports from China were levied with the highest duty-57.39%.
The latest decision was taken after several domestic steel companies, including the state-run Steel Authority of India, complained that the 20% import duty had failed to check cheap imports of steel from these countries, including China.