BEIJING (AP) – China accused the United States on Thursday of hampering trade after Washington imposed duties of up to 450 percent on Chinese steel in its latest response to a flood of low-priced imports.
The Ministry of Commerce complained U.S. regulators discriminated against Chinese suppliers by using incorrect standards for deciding what production cost and market prices should have been.
Beijing faces mounting criticism from the United States and Europe that it is exporting steel at unfairly low prices to clear a backlog in its glutted home market. Western governments say that hurts their producers and threatens thousands of jobs.
The U.S. Commerce Department announced the penalties on Wednesday to offset what it said was improper subsidies to Chinese steel mills and unfairly low export prices. It imposed similar penalties on steel imports from India, Italy, South Korea and Taiwan.
“The United States has deliberately suppressed the bulk of Chinese steel exports,” said a Commerce Ministry statement. “This not only harms Chinese steel enterprises but hinders trade and cooperation between enterprises.”