China calls for market economy status after U.S. duties

BEIJING (Reuters) - China's Ministry of Commerce said it would protect its industry's interests and accused Washington of double-standards in denouncing new U.S. anti-dumping duties imposed shortly before a visit by President Barack Obama.

It also called for Washington's swift recognition of China as a market economy.

The United States on Thursday slapped preliminary anti-dumping duties ranging up to 99 percent on $2.63 billion in Chinese-made pipes used in the oil and gas industry, in the biggest U.S. trade action against China.

That comes on top of counter-vailing duties on the same product, announced in September.

The preliminary Commerce Department decision came a week before President Barack Obama heads to Asia on a trip that includes stops in Shanghai and Beijing.

"China resolutely opposes the abuse of protectionist measures, and will take measures to protect the interests of our domestic industry," the statement on the Ministry's website said on Friday

"We hope that the U.S. will set aside its biases and as quickly as possible recognise China's market economic status, thoroughly overcoming its double standards and giving equal and fair treatment to Chinese firms."

In trade meetings with U.S. officials last week in Hangzhou, the Chinese side pressed for recognition as a market economy, before the 2016 deadline set as part of its entry to the World Trade Organisation.

The United States promised to set up a panel to consider the issue.