HEADLINE China rejects Canadian accusation of steel dumping

HEADLINE

China rejects Canadian accusation of steel dumping

By Chen Lidan | People's Daily app

22:00, March 13, 2018

Steel.jpg

File photo: China Daily

China on Tuesday dismissed an allegation by Canadian Prime Minister Justin Trudeau that China is “dumping” cheap steel on the global market, and called for international collaboration to cut capacity. 

China has taken concrete actions to trim excess production of its steel industry, an effort that has achieved remarkable progress at a great expense, Chinese foreign ministry spokesperson Lu Kang said in a response to Trudeau’s remarks.

“I want to remind you that steel overcapacity is not a Chinese problem but a global one. It’s hard to solve by any one country alone. We hope for coordinated action by all steel producers for the capacity cut. This needs international cooperation,” said Lu at a regular briefing. 

China slashed its crude steel production capacity by more than 50 million metric tons in 2017, exceeding its annual target.

In a government report setting goals for 2018, Chinese Premier Li Keqiang said China will cut steel capacity by around 30 million metric tons this year. 

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