. | . |
EU hits China, Russia with steel anti-dumping duties by Staff Writers Brussels (AFP) Aug 4, 2016 The European Union on Thursday hit China and Russia with anti-dumping duties on cold rolled steel imports after EU producers complained they were being forced out of the market. The European Commission said the levies, announced provisionally in February, will run for five years as Europe tries to cope with a global steel glut largely driven by massive Chinese output. "In the wake of the global steel overcapacity crisis, the Commission is applying the trade defence instruments to re-establish a level playing field between EU and foreign producers," it said in a statement. Industry uses cold rolled steel extensively to make all sorts of goods and appliances, from automobiles to refrigerators. The Commission said the duties on Chinese cold rolled steel will range from 19.7 percent to 22.1 percent, and from 18.7 percent to 36.1 percent for Russian companies. It said the EU has more than 100 trade defence measures in place, 37 of them targeting unfair imports of steel products of which 15 are Chinese. The EU has had a series of trade disputes with China, its second-largest trading partner and which makes more than half the world's steel. Beijing has not been slow to respond to what it sees as unfair measures and late last month imposed anti-dumping tariffs on some steel imports from the EU, Japan and South Korea. EU relations with Russia, another important trade partner, have been soured by the Ukraine crisis and subsequent sanctions imposed against Moscow. Russian Economy Minister Alexei Ulyukayev said Thursday's decision had been made without listening to Moscow's side of the argument and threatened to take the case to the World Trade Organization.
Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |