business
US Commerce Department launches trade probe into stainless steel from China
The US Commerce Department is looking into imports of stainless steel sheets and strips from China. – Reuters pic, March 5, 2016.The US Commerce Department said on Friday it had launched an anti-dumping and countervailing duty investigation into imports of stainless steel sheets and strips from China.
The probe was in response to a petition from AK Steel Corp, Allegheny Ludlum, North American Stainless and Outokumpu Stainless USA, it said.
It added that the US International Trade Commission was scheduled to make its preliminary determination of injury to US producers on or before March 28.
In response, China's Ministry of Commerce said steel overcapacity was a common global problem that required a coordinated response "rather than simply resorting to trade protection means".
"China hopes the US side corrects its ways that have been determined in past cases to be in violation of WTO rules, and launches investigations in a legal, objective and fair manner," it quoting an unidentified official from its Trade Remedy and Investigation Bureau as saying via a notice on its website.
US anti-dumping and anti-subsidy investigations into Chinese steel firms have had a significant impact on Chinese companies and China was highly concerned, it said. – Reuters, March 5, 2016.
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