China will impose anti-dumping duties on a speciality steel product imported from Russia and the United States in a landmark decision, the Ministry of Commerce said on Thursday. China's decision to slap punitive tariffs on oriented electrical steel is the latest chapter in a simmering trade row between the Asian giant and the United States.
Starting December 11, US and Russian exporters will need to pay cash deposits, but the ministry did not specify the amount, adding that it was a preliminary ruling. It found that US dumping margins on the steel product were 10.7 to 25 percent and that the subsidy rate was 11.7 to 12.0 percent. The dumping margin on the Russian version of the steel product was 4.6 to 25 percent, the ministry added in a statement on its website (www.mofocom.gov.cn).
The ministry said it was the first time that China had conducted an anti-subsidy investigation against imported products, though it has previously launched many anti-dumping investigations. "China's investigation was conducted according to Chinese law and World Trade Organisation principles, upholding principles of equity, reasonableness, fair procedures and transparency," a ministry spokesman said in the statement.
Last month the US Commerce Department levelled preliminary anti-dumping duties ranging up to 99 percent on $2.63 billion in Chinese-made oil well pipes in the biggest US trade action to date against China.
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