Chinese steel wire rod producers should have taken active measures to fight an anti-dumping investigation launched by the European Union last year, to prevent the imposition of high anti-dumping levies and beat a slide in exports, government officials and experts said yesterday.
They also suggested that Chinese exporters should appropriately leverage trade tools under the World Trade Organization, instead of ignoring it as they usually do, to choke down rising trade protectionism by some Western nations amid the financial crisis, and to protect their legal rights.
At a meeting of EU foreign ministers held on Monday, the 27-member body approved without discussion a measure to impose a definitive anti-dumping duty of up to 24 percent on steel wire rods imported from China for as long as five years.
This comes nearly six months after the EU levied a temporary duty on wire rods in February.
The duties, when it comes into effect, will lead to a loss of $400 million for Chinese exporters, the Ministry of Commerce (Mofcom) said.
"We have heard of it (the levy), but have not yet got any formal notice from the EU," said Cheng Yongru, division director of the Bureau of Fair Trade for Imports & Exports, which is in charge of dealing with the anti-dumping cases, and is under the Mofcom.
After the EU said they would initiate the anti-dumping investigation last June, "only one of the Chinese steel wire rod enterprises actively assisted the EU in conducting the investigation by filling out the questionnaire," he said.
The EU investigation answered a call from European companies, which had claimed that imports from China had hurt their businesses and the industry.