China's Commerce Ministry is urging the U.S. International Trade Commission to reject a call by U.S. Steel Corp. to investigate Chinese steel producers and their distributors. U.S. Steel has asked regulators to probe some of China's top steel producers, including the Hebei Iron & Steel Group.
China's Commerce Ministry said Wednesday that the requested investigation involves regulations designed to protect against intellectual property theft. The ministry said steel is considered a mature product and there's no factual basis for intellectual property disputes. The ministry says China and the US should instead work together to address steel overcapacity.