China warns US against restrictions and sanctions
BEIJING:China on Tuesday called on the United States to restrain the use of trade restrictions after the latter decided to launch trade remedy investigations on imported welded pipes, Xinhua reported.
"China is concerned about the US side's serious trade protectionist tendency in the field of steel products," a Ministry of Commerce (MOC) statement quoted an official as saying.
The statement came after the US Department of Commerce announced Monday trade remedy probes over large-diameter welded pipes imported from the Republic of Korea, Turkey, Greece, India, Canada and China.
Though it is the right of World Trade Organization members to make such investigations, "frequent and excessive protection of the domestic industry cannot serve the original purpose of trade remedy measures but often create a vicious cycle," Wang Hejun, head of the MOC's trade remedy and investigation bureau, said in the statement.
As of January, more than half of effective trade remedy measures taken by the United States were targeted at steel products, covering almost all steel products imported by the country, according to the statement.
Wang said the foundation of the global economic recovery remained fragile, which required all countries to work together.
"China hopes the US side abides by multilateral trade rules and plays a positive role in promoting world economic development," Wang said.APP