U.S. accuses China of subsidizing hi-tech steel exports
April 3, 2014 Category Automotive Metals & Minerals, Metals
The United States has accused China of unfairly subsidizing exports of hi-tech steel. The U.S. Department of Commerce estimated that the subsidy rate on imported grain-oriented electrical steel from Baoshan Iron & Steel Co and other Chinese exporters was 49.15%. General Manager He Wenbo said sales of the steel category accounted for 11% of total sales. Annual output of the speciality steel would reach 300,000 tons. According to the website of Baosteel’s rival, the Wuhan Iron and Steel Group produced 400,000 tons of the speciality metal in 2012. In January, the United States complained to the World Trade Organization (WTO) that China used tariffs to effectively block imports of U.S. steel despite a WTO ruling in the United States’ favor. The steel is used in the cores of high-efficiency transformers, electric motors and generators. In 2013, imports of grain-oriented electrical steel from China were valued at an estimated USD5.4 million. The complaint was lodged by AK Steel and Allegheny Technologies. The U.S. Commerce Department and the International Trade Commission (ITC) have yet to issue final rulings in the case.
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