The U.S. Commerce Department on Monday set final dumping and subsidy rates on imported imports of certain iron mechanical transfer drive components from China and Canada, signaling that it may impose punitive duties on the products.
China's overcapacity cut efforts will not generate a drag effect on the country's growth or harm the world economy, an official from the country's top economic planner said on Tuesday.
The restructuring plan for two major steel companies will be a touchstone for China's state-owned enterprise (SOE) reform.
S.Korean cold-rolled steel is the latest in a series of products being slapped with anti-dumping duties in the U.S.
It's being suggested Chinese and European commerce authorities are actively looking for"an appropriate mechanism" to solve their trade disputes in the steel sector.
China will use the World Trade Organization (WTO) dispute settlement process to defend its interests over an unreasonable decision by America on steel subsidies, the Ministry of Commerce (MOC) said Wednesday.
The Chinese government has been discouraging iron and steel exports in the midst oflackluster demand in the global market, the Ministry of Commerce said on Tuesday.
"After the Chinese group bought our Smederevo steel mill, the factory regained life. Now we are not afraid of losing jobs and hopeful of the future," Novica Jovanovic, a 51-year old veteran told Xinhua.
China and the United States have made incremental progress in accelerating bilateral investment treaty talks, addressing industrial overcapacity and expanding RMB trading in the United States at this week's annual high-level dialogue, U.S. experts said.
China, the world's largest steel producer and consumer, is resolute in its commitment to reducing overcapacity in the sector, although this may result in job losses.
India, the world's third largest steel producer, was among the top 10 importers of the alloy last year, according to the latest data by the global industry body World Steel Association (WSA).
Wang Zhengqiang, 52, retired eight years early during a layoff at a steel mill in Tangshan, North China's Hebei province.
International efforts to ward off trade protectionism will be a key topic at the Group of 20 (G20) summit later this year, as such practices have been on the rise.
For years, due to its steel exports, China has been the "dumping scapegoat" of the United States, a convenient excuse for the country to impose anti-dumping tariffs to protect its own sluggish steel industry.
China on Wednesday decried a U.S. decision to impose steep duties on Chinese-made cold-rolled flat steel.
China will make 100 billion yuan (15.3 billion U.S. dollars) of subsidies to steel and coal companies cutting capacity, the Ministry of Finance said Wednesday.
Indonesia has invited South Korea to help accelerate industrialization in Southeast Asia's largest economy.
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