(Yicai Global) May 25 -- China has called on the European Commission to act prudently and evaluate its overall interests during the deliberation of a verdict in its ongoing anti-dumping investigation against imports of hot-rolled steel sheet piles from the country.
The EU's probe results in an excessively protectionist attitude in its steel industry, said Wang Hejun, director of the trade remedy and investigation bureau at China's commerce ministry at a regular press conference, adding that it is not conducive to the long-term development of the trade bloc's steel industry and seriously disrupts normal trading.
The EU has imposed anti-dumping and countervailing measures against a variety of steel products from China in recent years, and in March this year, it launched a global safeguard investigation into imported steel products.
Wang stressed that the global economic downturn has led to a contraction in demand, which is the root cause of the recession in the global steel industry. The fundamental solution to the steel problem is for all countries to act together to enable the global economy to embark on the path of stable development as soon as possible.
The reckless adoption of trade restrictive measures will not help solve the problem, he added. China hopes that the EU will refrain from taking trade remedy measures and strengthen cooperation between countries to promote liberalization and facilitate global economic recovery, so as to expand overall demand and solve difficulties faced by the industry.
Editor: William Clegg