The China Iron & Steel Association(CISA) is
calling on its government "... to take revenge" on the United States
steel industry after president Trump signed import tariffs into effect on
Thursday. It recommends targeting steel imports such as stainless,
galvanized coils, seamless pipe as well as other products including coal,
electronics and agricultural products, Kallanish notes.
“Before the 232 investigation the US has taken
over a dozen anti-dumping and countervailing remedy measures against several
major steel products,” says CISA secretary general Liu Zhenjiang. "More
steel peers from other places in the world should join together to turn against
the US government.”
Liu gave a strong response to the 25% steel
tariffs on 9 March during a CCTV interview, saying CISA is firmly against
such behaviour which disrupts global trade rules and hurts downstream
consumers. CISA is suggesting that China take strong action towards steel
imports from US, and other products. Liu also points out that China is
conducting a massive restructuring of its steel industry, on which it will
continue to make progress in the future.
The Ministry of Commerce also released a
statement in which Wang Hejun, head of the trade remedy and investigation
bureau said China "... will take effective action to safeguard its
rightful interests." Wang also noted that the measure has been protested
not only by other governments but by US congressmen, industrial organisations
and companies.
US Department of Commerce data show that
Chinese steel imports into the USA were just over 800,000 tonnes (see separate
article). This represents oly 2,3% of total steel imports into the USA.
Source: Kallanish