The US Commerce Department has determined on May 30th 2008 that Chinese producers and exporters sold standard pipe in the United States at 69.20% to 85.55% less than normal value, and received net countervailable subsidies ranging from 29.57% to 615.92%.

CCCMC claimed that the use of anti subsidy measures infringes US rules and the tradition of not adopting anti subsidy measures against non market economies which has been practiced since 1984.

The statement said the frequent requests for anti subsidy probes into Chinese exports made by US industries are not conducive to the normal development of the bilateral trade relations. It said US ruled that China distorted the domestic prices of hot-rolled sheet steel and subsidies were received by all pipe producers, ranging from state-owned to private makers.

CCCMC said it runs counter to the World Trade Organization Agreement on Subsidies and Countervailing Measures. It said that US Department of Commerce's false calculation of the subsidies and consequent double taxation, greatly hurt the interests of Chinese industry and is not acceptable to China.

CCCMC strongly urged the US to treat and solve Sino-US steel trade problems fairly proceeding from the long term interest of bilateral trade and economic cooperation.

June 19, 2008

Source: steelguru.com