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Butler County's great daily newspaper

Steel tariffs added

China says U.S. restricting trade

BEIJING — China accused the United States today 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 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.

The U.S. Commerce Department announced the penalties 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.”

The latest penalties apply to corrosion-resistant steel products. They include anti-dumping duties of up to 210 percent and anti-subsidy duties of up to 241 percent.

On May 17, Washington imposed similar duties of up to 522 percent in an action targeting Chinese-made cold-rolled steel.

The Chinese government is trying to shrink bloated industries including steel, coal, cement, aluminum and solar panel manufacturing in which supplies exceed demand.

Chinese government plans call for stepping up exports and shifting some operations abroad. The Cabinet approved measures in April to support steel exports with tax rebates and bank loans.

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