U.S. Protests China’s Innovation Rule, Steel Duties

(Reuters – Doug Palmer)

The U.S. government joined 33 business groups on Thursday in protesting a new Chinese regulation they said promotes development of Chinese products by keeping foreign competitors out of the market.

“This is a serious concern. It is in the interests of both the U.S. and Chinese governments to promote innovation, but innovation is no excuse for discrimination,” said Carol Guthrie, a spokeswoman for U.S. Trade Representative Ron Kirk. “We are expressing our serious concerns with all appropriate counterparts in the Chinese government.”

U.S. trade officials also criticized China’s decision on Thursday to slap preliminary duties on imports of a U.S. specialty steel product. The move was seen by analysts as a response to U.S. duties on Chinese-made steel goods. Read more here.