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CTTF: WTO case only way to curtail Chin's aluminum subsidies

Tuesday, April 18, 2017   (0 Comments)
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Considering the recent bailout of China's largest Aluminum Producer Hongqiao, the China Trade Task Force (CTTF) on April 17, 2017 released a statement calling on the Trump administration to move forward with a WTO case to eliminate China's illegal aluminum subsidies. China's largest aluminum producer Hongqiao is facing fraud allegations for underreporting production costs and failing to disclose electricity expenses—one of the biggest costs for aluminum producers.

China's excess aluminum capacity has decimated the U.S. economy. Over the last 18 months, 3,500 aluminum works have lost their jobs. Since joining the WTO in 2001, China has gone from being a relatively small aluminum producer to the largest in the world, currently producing more than 50% of global aluminum supply. Over the same period, more than a dozen U.S. aluminum primary smelters in the United States have been forced to closed

Jeff Henderson, President of the Aluminum Extruders Council noted that "the recent bailout of China's largest aluminum producer Hongqiao reveals the lengths at which the Chinese government is willing to go to protect its subsidized industry," Mr. Henderson went onto note that "individual dumping and subsidy cases on specific products do not address the root cause of the problem. Decisive action from the World Trade Organization (WTO) is the only thing that will curtail China's aluminum excess capacity." Read more

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