Trade fight: China calls new U.S. steel import duties unfair

China has charged the U.S. with unfair trade policies after imposing a new wave of tough penalties on low-priced steel imports.

After the Commerce Department on Wednesday announced anti-dumping duties on Chinese corrosion-resistant steel products of up to 210%, that country's Ministry of Commerce accused the U.S. of hampering trade. Last week, the U.S. announced duties of up to 522% on cold-rolled steel used in automobiles and other manufacturing.

"The United States has deliberately suppressed the bulk of Chinese steel exports," the Chinese Commerce Ministry said in a statement. "This not only harms Chinese steel enterprises but hinders trade and cooperation between enterprises."

Criticism of China, which is the world's largest steel producer, has escalated as the G7 convenes in Tokyo. In advance of the meetings that begin Thursday, European Commission President Jean-Claude Juncker warned about new anti-dumping tariffs of its own to protect against China's steel imports. “If somebody distorts the market, Europe cannot be defenceless,” Juncker said, according to Reuters.

What's coming up at the G7 summit in Japan

The Group of Seven countries -- the U.S., the U.K, Canada, France, Germany, Italy and Japan -- are expected to take action to combat a global steel glut, based on draft text obtained by Reuters.

The Commerce Department's International Trade Administration (ITA) issued its penalties after the agency investigated U.S. steel makers' complaints that dumping of low-priced steel imports has led to domestic job losses.

The ITA also issued less harsh anti-dumping duties on steel from India, Italy, Korea and Taiwan, as well as penalties for unfair government subsidies on steel from China, India, Italy and Korea.

Imports of corrosion-resistant steel from those countries totaled nearly $1.9 billion, with Chinese products accounting for $500.3 million, the ITA said.

Chinese officials say that U.S. regulators used incorrect standards for calculating the production cost and market prices of steel imports from the country's manufacturers. China will "take all necessary measures to fight for fair treatment," its Ministry of Commerce said.

World steel chief calls Chinese glut 'serious and critical'

The Associated Press contributed to this report.

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