China will ensure transparency in its first dual trade investigation
On August 19, 2009, China's Ministry of Commerce (MOFCOM) announced on its website that it will investigate into another six US steel subsidies, including U.S. governments' coal subsidies and power and natural gas offered at low prices.
According to a statement MOFCOM exchanged views with its U.S. counterpart on that case on August 13.
On June 1, MOFCOM announced the launch of an anti-dumping investigation into imports of grain oriented flat-rolled electric steel (GOFES) from the U.S. and Russia, as well as a countervailing investigation into 22 subsidies related to US GOFES.
That is China's first countervailing investigation and first dual trade remedy investigation into its imports from the same country.
The complaints were filed by Baosteel Group Corp. and Wuhan Iron & Steel Group, whose gross output of electric steel between 2006 and January to February 2009 accounted for 100 percent of the gross output of this type of product in China during that period.
In 2008, China imported 59,000 tons of grain oriented flat-rolled electrical steel. In the first half of 2009, the figure stood at 18,000 tons. Imported electrical steel has strong impacts on China's domestic steel market due to its low price.
The investigation is supposed to conclude in one year, but it could extend half a year under special circumstances. China will impose special tariffs on electrical steel from the U.S. if the findings of the investigation are affirmative.
By People's Daily Online
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