China Challenges CR Duties, Considers Relocating Capacity

Last week the Department Commerce slapped AD/CVD duties totaling over 500 percent on China cold rolled steel flat products. China immediately challenged the determination, calling for removal of the penalties and reaffirming the rebates awarded to its industry to help with solving the steel and coal overcapacity. The Chinese Ministry of Commerce confirmed that it will continue its preferential tax policies to help fund industrial restructuring as well as continuing steel export tax rebates.

“China is extremely dissatisfied with this decision,” China’s Ministry of Commerce said in a statement, adding the country “urges the US to strictly abide by World Trade Organization guidelines and correct its mistake as quickly as possible.”