Is China dumping steel in NZ, and has it issued threats of trade retaliation? The flurry of newspaper reports this week aroused much concern among NZ exporters but in the wash-up were found to have little substance. The Chinese ambassador in NZ Wang Lutong has given an assurance to the Govt there will be no trade retaliation if an inquiry into a complaint of alleged dumping of Chinese steel goes ahead. This followed the original newspaper report China has threatened “retaliatory measures” against NZ trade, warning it will slow the flow of dairy, wool and kiwifruit imports.
It turns out the original story, as they say in the trade, was a “beat-up,” based on a comment from a Zespri employee in Shanghai. Kiwifruit marketer Zespri says reports it was called to a meeting in Beijing or has been pressured by the Chinese Govt over a potential inquiry into the dumping of Chinese steel are “false.” It says two weeks ago local staff had received unsubstantiated information from an industry body in China on purported industry consultations related to the importation of NZ agricultural products. This information was passed on to NZ embassy officials in China as part of normal business.
Amusingly Fairfax is still trying to run the story hard, despite the fact most media have all but ignored it now the truth has come out. The Dom Post editorial has jumped the shark even further and has said Todd McClay should be ashamed of himself and should be sacked for some reason. The only part of the editorial I’d agree with is this:
Truth is the first casualty of war, as the phrase goes. This also seems to apply to trade wars.
Indeed truth is the casualty here, as Fairfax continue to insist there is a trade war when there isn’t.
Once again, this is why trust in media is at an all time low.