From the FT:

Two of China’s top-five steelmakers have attacked a report from the US steel industry complaining about $52bn of government subsidies allegedly handed to the Chinese steel business.They say the report suffered from methodological flaws and contained figures that were “not true”.

Damn, that’s shocking. A trade group massaging statistics to the benefit of its members? Somebody call a cop.

Wait, it gets better:

In comments that may exacerbate the tensions between the two sets of producers, Dan Dimicco, chief executive of Nucor, called the complaints from the Chinese steelmakers “hog-wash”.

Yeah, that “hog-wash” comment could lead to some sort of international steel incident.

Maybe it’s just me, but sometimes I get tired of the political theater.

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