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China urges Brazil against trade remedy measures

Xinhua, July 15, 2016 Adjust font size:

China has urged Brazil to stop using the controversial Surrogate Country approach in its anti-dumping investigation into Chinese high-carbon steel wire.

The Ministry of Commerce said in a statement on Friday that Brazil planned to use the United States as an analogue country for a benchmark review to evaluate the Chinese product's normal price.

When the Surrogate Country approach is in effect, a third country or region's prices can be used to assess if a given country is exporting below market value or dumping.

However, in accordance with the accession protocol signed when China joined the World Trade Organization in 2001, the Surrogate Country approach expires on December 11, 2016, the ministry said.

Frequent use of protectionist practices will not help solve global steel sector woes amid the economic slowdown, and Brazil should refrain from trade remedy measures, according to the ministry's statement.

It said China and Brazil, as BRICs members, should enhance communication and collaborate with each other to create a favorable environment for mutual benefit. Endi