China subsidies still hurting US market: AISI
Sep 23, 2013 | 05:03 PM
| Samuel Frizell
NEW YORK China has abandoned its program of liberalizing the countrys economy by opening it to free market forces, the American Iron and Steel Institute wrote in a Sept. 20 letter to the office of the U.S. Trade Representative (USTR), alleging that China continues to injure U.S. producers by subsidizing its steel industry.
China continues to massively subsidize its steel industry, manipulate its currency and transship its products through third-party countries to avoid U.S. duties, the AISI wrote in response to the USTRs request for public comment.
"What weve seen is that in the decade since China joined the World Trade Organization, China has diverged from its path of economic reform back to an increased emphasis on state intervention and state control," AISI senior vice president of public policy, general counsel and secretary Kevin Dempsey told AMM Sept. 20. "The (Chinese) steel industry has always been dominated by state control, and earlier efforts where we thought there was going to be some liberalization have stopped, and weve gone backwards."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.