China slams US steel sanctions

China said Thursday it was "strongly dissatisfied" with a US decision to slap punitive duties on imported Chinese steel pipes targeted for unfair subsidies.

The ministry of commerce said it "strongly opposed" the decision by the International Trade Commission (ITC) on Wednesday but stopped short of saying it would take retaliatory action.

"We think any ruling that deems China's oil country tubular goods caused injury to the US industry will be wrong and disregards the facts that it was the financial crisis that led to the industry's difficulties," said the statement posted on the ministry's website.

The pipes, known as "oil country tubular goods" in trade terms, are used to deliver oil and gas in the petroleum industry.

The ITC, an independent federal agency, found that the subsidised pipes adversely impacted the domestic steel industry, paving the way for the Commerce Department to impose countervailing duties of up to nearly 16 percent on the pipes.

This is the largest countervailing duty case filed against China, based on the value of trade, lawyers said.

Source: AFP

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