Brussels, 23/02/2012 (Agence Europe) - An anti-subsidy proceeding on imports of Chinese organic-coated steel, which completes an anti-dumping investigation on the same product, is not to the liking of China which is ready to negotiate a deal on providing financial support to Europe still suffering from the debt crisis.
In a press release published on its internet portal on Thursday 23 February, the Chinese Ministry of Trade did not hesitate to make a connection between the financial aid, that Beijing could provide to the EU to resolve the sovereign debt crisis, and two anti-dumping and countervailing inquiries targeting Chinese exports of organic-coated steel, a product used in electrical household appliances, building material, heating appliances and furniture. It is the opinion of Beijing that the two proceedings - the first triggered in December 2011 and the second this week - “could lead to two separate measures, which would be in breach of WTO rules”. The Chinese trade minister went on to say that, at a time when the global economy is still not out of the financial crisis, when several European countries are plunged deep into the sovereign debt crisis, all countries should adopt a cooperative approach, in openness and tolerance, in order to overcome the crisis together. However, he went on, the anti-subsidy proceeding launched by the EU sends a bad protectionist signal to the outside world, not only casting a shadow on the regular trade in steel between Europe and China but also damaging their joint efforts to address the crisis.
China, which has the largest exchange currency reserves in the world (estimated at $3,200 billion end 2011), has several times hinted that it could take part in the European rescue fund.
The anti-subsidy inquiry on imports of Chinese organic-coated steel was activated following a complaint by Eurofer, which represents over 70% of all European producers concerned.
In mid-February, the Commission had initiated two new anti-dumping inquiries aimed at products imported from China, the first on imports of ceramic tableware and kitchenware, and the second on imports of threaded tube or pipe cast fittings of malleable cast iron. (EH/transl.jl)