China 'gravely concerned' about US investigation of its steel products

China's Ministry of Commerce said in a statement Monday that the Chinese government is shocked and "gravely concerned" about the frequency and direction with which U.S. probe into Chinese steel products.

According to the statement published on the ministry's web site, the United States Department of Commerce launched three dual investigations, namely anti-dumping and anti-subsidy investigations, in ten days into China-made wire trays, steel grating, and stranded steel wire on June 26, June 19 and June 17.

The Chinese steel industry is strongly dissatisfied with the situation, said the statement.

Such practice is sending wrong signals of trade protectionism to the U.S. domestic market and the international society, and could seriously affect the interest of downstream part of the U.S. steel industry, while damaging the normal steel trade between the two countries, said the statement.

If anti-dumping duties are put upon exported steel products from China, prices would be pushed up, and U.S. downstream manufacturers would have to buy more expensive steel products.

China will closely watch the ongoing investigations and preserve the rights of appealing the cases to the World Trade organization (WTO), said the statement.

(Xinhua News Agency June 30, 2009)