Japan wants to meet China on safeguard measures

Japan wants to meet China on safeguard measures

As already announced by China that tariffs/quotas on the steel imports are effective from May 24, 2002 on, Japan is now preparing to discuss with China about these provisional safeguard measures. Trade Minister Takeo Hiranuma declared that they think this contributes to protectionism which was initiated by the US tariffs and then followed by EU in order to prevent all the material destined to USA to be diverted to Europe. Japan believes that the figures show China's domestic production grow besides the raised imports. Therefore they are planning to ask China to clearly bring forth what kind of damage was caused to the domestic market due to the increase in the imports, within the framework of WTO rules. Japan is negatively effected by these safeguard measures as China is among the most important Japanese steel importers and as 2001 custom clearance statistics reveal that Japan's 15% steel export, i.e., 4.57 mio tons, was effected into China.