China says U.S. has not told it about steel tariff-dodging probe
- Wall Street falls with financials, other post-election gainers
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- US Drone Market Could Reach 6 Million By 2019 - Oppenheimer
Cranes are seen above piles of steel pipes to be exported at a port in Lianyungang, Jiangsu province, China, December 1, 2015. REUTERS/China Daily/File Photo
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BEIJING (Reuters) - The United States has not told China about an investigation into whether Chinese companies shipped steel through other countries to avoid anti-dumping duties, China's commerce ministry spokesman said on Thursday.
The U.S. Commerce Department on Monday formally opened an investigation into allegations that Chinese steel producers are diverting shipments through Vietnam to avoid American import tariffs.
"To date, the U.S. has not informed China about this," Shen Danyang told reporters at a routine news briefing.
"Protectionism in international trade is gaining traction, and some countries are imposing increased restrictions on steel which is most certainly distorting normal trade."
China hopes all countries would adopt policies that "would create a desirable environment for global economic growth rather than the opposite which would create obstacles that impact normal trade," Shen added.
The European Union's anti-fraud office (OLAF) is also looking into several cases where Chinese steel firms shipped the metal to another country, disguised its origin, and then shipped it on to Europe in a process known as "transshipment."
When asked about whether China was aware of OLAF's investigation, Shen told Reuters he "wasn't well acquainted" with the situation.
(Reporting by Sue-Lin Wong; Editing by Kim Coghill)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. Secret Service settles race discrimination case with black agents
- UK consumers to be more cautious spenders, GDP growth to slow: Poll
- Indonesia can do business with 'pragmatic' Trump, says minister