China's Steel Industry The Use Of Safeguard Measures Under The Framework Of The Wto

As one of the three trade remedy measures authorized by the World Trade Organization, safeguard measure is considered as a safe valve to the import country' s economy. In recent years, the depression of world economy, especially the United States' s economy has led to the shrinking of international trade and worse situation of the steel industry competition. Under this international background, many countries were keen on taking measures to protect their domestic steel industry. Safeguard measure now becomes a focus in the international steel trade.Steel industry plays an important role in the economy development of our country. After China' s entry to the WTO and the opening up of our steel market, our steel industry is facing a more and more scorching international competition. President Bush' s announcement to impose a safeguard measure on steel imports initiated a world war on international steel trade. As the new comer of the WTO family, China must make a choice to face the situation and protect its domestic steel industry properly.This article made a research on the following topic, i.e. how should we use the safeguard measure to protect the steel industry? Firstly, we gave a brief introduction on America' s safeguard measure on steel imports. Secondly, the basic knowledge about the 201 Clause and Safeguard Measure was introduced. Then, we put our focus on the application of safeguard measure in worldwide steel industry. Last but not the least, we analysed the first safeguard measure initiated by our government on some steel imports and gave some suggestions on how to use the safeguard measure to protect our domestic industry.