China Tells

China’s Steel industry continues to face obstacles in exporting the excessive capacity. Last week the US International Trade Commission (ITC) ruled  that Chinese steel exports to US has damaged the American domestic industry, which results in a duty of 10% to 16% on future imports of Chinese steel into US (See Article from WSJ).  Chinese steel manufacturers and government can appeal to WTO. However, a filing to WTO might take at least 24 months to correct the duty. Therefore such a ruling is a hit to Chinese steel industry, particularly when the sector has increased capacity dramatically in the last few years and have excess surplus to export (See Article from Chinatells). At the same time, Chinese steel exports also face tariff and non-tariff obstacles from EU. Therefore it would be a big challenge for Chinese steel sector to tackle the problem of over supply.

中国钢铁行业最近在出口方面受到挫折。美国国际贸易协会近日裁定，中国钢铁出口对美国本土钢铁行业造成损害，因此将对以后的中国钢铁进口加征10%到16%的惩罚性关税。这是中美最近一系列贸易战中的又一个小战役。此举将使中国钢铁行业的过剩产能进一步恶化，因为中国钢铁在欧洲已经受到反倾销关税的惩罚。