Thursday

24th Aug 2017

EU imposes anti-dumping duties on China and Russia

  • EU imposed 36.1 percent the maximum rate on Russian companies (Photo: Renate Meijer)

The EU on Thursday (4 August) imposed anti-dumping measures against some China and Russia steel following industry complaints from the European Steel Association.

"They will be in place for five years and for the first time will also be levied retroactively," EU commission spokeswoman Mina Andreeva told reporters in Brussels.

Thank you for reading EUobserver!

Subscribe now and get 40% off for an annual subscription. Sale ends soon.

  1. €90 per year. Use discount code EUOBS40%
  2. or €15 per month
  3. Cancel anytime

EUobserver is an independent, not-for-profit news organization that publishes daily news reports, analysis, and investigations from Brussels and the EU member states. We are an indispensable news source for anyone who wants to know what is going on in the EU.

We are mainly funded by advertising and subscription revenues. As advertising revenues are falling fast, we depend on subscription revenues to support our journalism.

For group, corporate or student subscriptions, please contact us. See also our full Terms of Use.

If you already have an account click here to login.

The sanctions, levied on steel sales from last December onward, hit cold rolled steel used in products like cars and washing machines.

Andreeva said the move was needed "to fight unfair imports of steel products."

The EU commission had also provisionally imposed tariffs in February.

The latest duties range up to 22.1 percent for Chinese and up to 36.1 percent for Russian companies.

China's steel groups Shougang and Angang along with Russian operators Severstal and Magnitogorsk Iron & Steel Works are among those targeted.

China produces around half of the world's steel supply and had pledged to cut production earlier this year.

But Bloomberg reports the Chinese and Russian companies have allegedly sold some €4.5 billion, below market cost in the EU.

EU countries say the below market costs and subsidies put thousands of jobs at risk.

Europe's €166 billion steel production annual turnover accounts for 1.3 percent of the EU's GDP and directly provides 328,000 jobs.

EU trade commissioner Cecilia Malmstroem earlier this year accused Chinese firms of overproduction.

China's commerce minister, for its part, said on Thursday it regretted the EU commission decision.

"This move amplifies legal uncertainty and gravely affects normal international trade," the ministry said, in a statement.

China, late last month, also imposed five-year anti-dumping duties on steel imports from the EU, Japan, and South Korea.

The Chinese tariffs hit grain-oriented electrical steel, used in the manufacture of large generators and electricity transformers.

Opinion

Steel overcapacity crisis - from Europe to China

While the debate has escalated about China’s steel overcapacity, it is not exactly new. The first postwar steel crisis occurred in the US and Europe. Beijing seeks to avoid a deja vu of bad policies.

Airbnb too 'different' to pay EU tax

US home rental firm said its “model is unique” because most of the money stays in pockets of local people, as France and Germany prepare EU tax crackdown.

EU cautious with German diesel plan

The European Commission welcomed the German carmakers' pledge to update software in diesel cars, but is waiting for details on how emissions will be reduced.

News in Brief

  1. Air Berlin insolvency talks begin amid 'stitch-up' accusation
  2. EU calls on Serbia and Macedonia to remain calm
  3. Schulz wants US to remove nuclear weapons from Germany
  4. Ukraine and Russia to announce another ceasefire
  5. EU to investigate Monsanto-Bayer merger
  6. US will ask Nato allies to send more troops into Afghanistan
  7. Greece to be absent at event on Communism and Nazism
  8. Czechs want observer status in Eurogroup meetings

Stakeholders' Highlights

  1. European Jewish CongressEuropean Governments Must Take Stronger Action Against Terrorism
  2. European Healthy Lifestyle AllianceDoes Genetics Explain Why So Few of Us Have an Ideal Cardiovascular Health?
  3. EU2017EEFuture-Themed Digital Painting Competition Welcomes Artists - Deadline 31 Aug
  4. ACCABusinesses Must Grip Ethics and Trust in the Digital Age
  5. European Jewish CongressEJC Welcomes European Court of Justice's Decision to Keep Hamas on Terror List
  6. UNICEFReport: Children on the Move From Africa Do Not First Aim to Go to Europe
  7. Centre Maurits CoppietersWe Need Democratic and Transparent Free Trade Agreements Says MEP Jordi Solé
  8. Counter BalanceOut for Summer, Ep. 2: EIB Promoting Development in Egypt - At What Cost?
  9. EU2017EELocal Leaders Push for Local and Regional Targets to Address Climate Change
  10. European Healthy Lifestyle AllianceMore Women Than Men Have Died From Heart Disease in Past 30 Years
  11. European Jewish CongressJean-Marie Le Pen Faces Trial for Oven Comments About Jewish Singer
  12. ACCAAnnounces Belt & Road Research at Shanghai Conference