• China Steel Association: US launches steel import survey does not conform to fair trade principles

    2020/7/15 14:57:47

    A spokesman for the China Iron and Steel Association said on the 26th that the US initiated a survey on imported steel. The Chinese steel industry believes that the US side has sent a protectionist signal to the international community, which is inconsistent with the principle of fair trade. The Chinese steel industry will Keep an eye on this.

    The China Iron and Steel Association and the Chinese steel industry have noticed that US President Trump signed an administrative memorandum on April 20, asking the US Department of Commerce to immediately investigate whether it should prevent steel imports on the grounds of damage to national security, and said the investigation was not directed against China. Despite this, the Chinese steel industry believes that the US side has sent a protectionist signal to the international community, which is inconsistent with the principle of fair trade, and the Chinese steel industry will remain concerned.

    The United States is both a major consumer of steel and the world's largest importer of steel. According to US statistics, in 2016, the United States imported 29.96 million tons of steel from the world, down 14.8% year-on-year, with an amount of 22.3 billion US dollars, down 26.4% year-on-year. This further exacerbates the pressure on the international steel market.

    A spokesman for the China Iron and Steel Association said that China’s steel exports to the United States are very limited and do not affect the safety of the US steel industry. The main source of imported steel in the United States is other countries than China. According to Chinese statistics, in 2016 China exported 1.17 million tons of steel to the United States, accounting for 1% of China's total exports, amounting to 1.7 billion US dollars, accounting for 3% of China's overall steel exports. According to US statistics, in 2016, the United States imported 789,000 tons of steel from China, accounting for 2.6% of the total US imports, amounting to 910 million US dollars, accounting for 4.1% of the total US steel imports.

    A spokesman for the China Iron and Steel Association said that in fact, China and the United States are also facing global steel overcapacity. As a major producer, consumer and trader of steel, China has taken practical measures to resolve excess capacity. In 2016, the steel industry withdrew more than 65 million tons of production capacity. In 2017, it will continue to resolve steel production capacity and vigorously promote structural adjustment and transformation and upgrading of the steel industry. It is hoped that the US will do the same, and work harder to adjust the structure of the steel industry, eliminate backward production capacity, and upgrade the level of industrial modernization, and exert the influence and role of the US steel industry to promote the healthy development of the international steel industry.

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