China hit with record retaliatory trade measures in 2016

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China was hit with a record number of retaliatory trade measures last year, the Ministry of Commerce said on Thursday, with countries around the world claiming it had flooded global markets with cheap steel and other products.

"Trade disputes are becoming increasingly politicized, measures are increasingly extreme and final tariff rates are relatively high," ministry spokesman Sun Jiwen said at a regular briefing, singling out measures taken against China's steel, solar panel, ceramics and tyre industries.

Sun Jiwen, spokesman of China's Ministry of Commerce. /CFP Photo

Sun said that in 2016, 27 countries and regions took out 119 trade remedies against China, with the relevant cases totaling 14.34 billion US dollars, up 76 percent from the previous year.

A total 21 countries and regions took 49 remedies against Chinese steel, costing 7.90 billion, up 63.1 percent from 2015, he added.

CFP Photo

Trade remedies are trade policy tools that allow governments to take remedial action against imports which are hurting domestic industries. They include anti-dumping actions, countervailing duties and emergency measures to safeguard industries.

China will increase its targets for capacity cuts in steel and coal in 2017, while extending its campaign against overcapacity in industries such as cement and glass, state media reported in December.

CFP Photo

“Against today’s backdrop of a sluggish global economy, we hope countries can deal with trade frictions through dialogue and cooperation and work together to promote development,” Sun said.

(With input from Reuters)