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China disappointed at continued high U.S. taxes on Chinese steel products

Reuters

BEIJING (Reuters) - China is disappointed at the continued high U.S. tax rates on Chinese steel products and will take the necessary steps to protect the rights of its enterprises, an official at the Ministry of Commerce said on Saturday.

China also called into question the way in which the U.S. anti-dumping investigation is being conducted, Wang Hejun, head of the trade remedy and investigation bureau at the Ministry of Commerce, said in a statement on the ministry's website.

"In the anti-dumping probe, investigating departments disregarded the cooperation of the Chinese government and Chinese enterprises," Wang said.

Earlier this week, the United States moved closer to slapping duties on imports of stainless steel sheet and strip from China, issuing a final determination that the products were being subsidized and dumped in the U.S. market at below fair value.

The U.S. Commerce Department said it affirmed anti-dumping duties ranging from 63.86 percent to 76.64 percent on the imports.

The duties will go into effect for five years if the U.S. International Trade Commision subsequently affirms its earlier finding that U.S. producers were being harmed. The commission is due to make its final determination on or about March 20.

(Reporting by Ryan Woo; Editing by Sam Holmes)

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