Beijing concerned by anti-China protectionism now rising in the west
July 20, 2016, 5:16 am

The Chinese Commerce ministry noted last month that the US has already imposed 161 duties for trade remedies on steel products against other countries by the end of April 2016 [Xinhua]

“Protectionism is rising,” Ministry of Commerce spokesperson Shen Danyang said during a routine press conference on Tuesday, citing a surge in trade remedy cases over Chinese products.

Seventeen countries and regions launched 65 investigations, mostly anti-dumping and anti-subsidy, against Chinese products, from January to June, up two thirds year on year, according to Shen.

Around $8.54 billion worth of goods were involved, up 156 per cent from a year ago, said the spokesperson.

The United States, China’s second-largest trade partner, filed 18 cases during the period.

A recent Bloomberg report looks at the high cost of US protectionism and concludes that efforts to protect industries from competition have typically not resulted in their revival.

China is also the main target with European anti-dumping protection already in force on Chinese goods ranging from stainless steel and reinforcing steel to wire rod and steel wires.

Trade remedy policies cannot help economic recovery and on the contrary have compounded already-sluggish global trade, Shen said, calling for concerted effort from the global community to weather the ongoing hardships.

As evidence of the excess protection in the US market, the Chinese Commerce ministry noted last month that the US has already imposed 161 duties for trade remedies on steel products against other countries by the end of April 2016.

“The US steel sector has been in a state of overprotection,” the ministry said in a statement on its website, adding that this overprotection has made the U.S. sector uncompetitive.

TBP and Agencies