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Friday 29 January 2010

China slams US steel pipe duties

The pipes, used for the transportation of oil and gas, will now be subject to duties of between 10 and 16 percent. Washington argues the measure is needed to counter China's unfair state subsidies.

In an online statement, Beijing's commerce ministry accuses the US of denying the genuine problems in the US steel industry, which it argues have nothing to do with China's policies but are caused by the global financial crisis and the shrinking demand for oil.

The trade dispute looks set to worsen trade relations between the US and China, which are already tense following a row over Chinese car tyres.

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