Hillary Clinton Warns China Over Rising Steel Production
Girish Shetti | | Apr 12, 2016 07:46 AM EDT |
(Photo : Getty Images.) Amid global steel crisis, Democratic presidential candidate Hillary Clinton on Monday issued warning to China that it must stop excessive
dumping of cheap steel in the international market.
Democratic presidential front-runner Hillary Clinton has warned China against its decision to support overcapacity in steel production, adding that she will take stern action against the country's dumping policy if she is elected as US President.
"I would not tolerate attempts by China to solve its growing economic problems on the back of American workers," Clinton said on Monday.
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"As President, I'll aggressively pursue trade cases and impose consequences when China breaks the rules by dumping its cheap products in our markets," Clinton said.
Hillary Clinton's statement comes just a day after UK requested China to cut down on its steel production. The plea was made by UK Foreign Secretary Philip Hammond during his meeting with Chinese counterpart on Sunday.
China is facing immense heat from the international community for its excessive dumping of cheap steel products in European and American markets. This has caused forced the European steel industry into major crisis, with several steel plants in the UK facing shutdown.
British Prime Minister David Cameroon met with Chinese President Xi Jinping last week to discuss about China's dumping issue. The meeting took place on the sidelines of Nuclear Security Summit in Washington.
However, China has refused to give in to international pressure as it remains adamant to keep overcapacity in steel production intact.
Analysts said that China is resorting to dumping strategy owing to ongoing economic crisis in its economy, which has led to a slump in domestic consumption of steel.
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