By Olamilekan Fawas
China’s Ministry of Commerce said it hopes the European Union will carefully assess its overall interests and be cautious in taking restrictive measures.
The EU on Thursday said it had decided to launch an anti-dumping probe into hot-rolled steel imports from China. The EU has, however, launched repeated anti-dumping and anti-subsidy probes into iron and steel products from China.
According to Wang Hejun, head of the ministry’s trade remedy and investigation bureau, the investigations are overprotecting its steel industry and not beneficial to the long-term development and upgrading of the industry.
“They are harmful for consumers, and seriously disrupt the steel trade between China and the EU. Weak growth of the steel industry was caused by declining demand against the backdrop of world economic downturn. The way out is joint efforts from all countries to return to stable growth as soon as possible,’’ Wang said.
According to him, restrictive trade measures will not help. “China expects the EU to practice restraint, strengthen cooperation and increase overall demand,” Wang said