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China says US deliberately misread WTO rules in steel subsidy spat

[SHANGHAI] China's Commerce Ministry said on Wednesday the United States had deliberately misinterpreted World Trade Organisation (WTO) rules after the US Commerce Department found in favour of subsidy rates for Chinese steel.

The US Commerce Department found in favour of anti-dumping measures for imports of stainless steel sheet and strip from China and said it had set a preliminary subsidy rate of 57.30 per cent for a Chinese steel manufacturer, according to a preliminary finding released on Tuesday.

China's commerce ministry said in a statement it was not satisfied with the decision and that it would use the WTO dispute settlement process to defend its interests.

Recently, the United States levied high taxes on Chinese stainless steel, cold rolled steel, corrosion-resistant steel plate and other goods that served as a "man-made obstacle" and an effective "rejection of Chinese steel products", the commerce ministry statement said.

REUTERS