European Commission threatens China with new duties on stainless steel
The European Commission on Thursday announced that it is starting an investigation into the possible dumping of stainless steel from supplies from China and Indonesia.
In addition, the Commission said it has imposed temporary anti-dumping duties on Chinese steel road wheels used for cars up to 66%, accusing Chinese exporters of selling them at unreasonably low prices.
“Interim measures should be taken to prevent further damage to the Union's industry as a result of dumped imports,” the Commission said.
The Commission said in its official journal that China's market share has doubled last year compared to 2015.
The charges against China, in particular, are part of broader trade tensions with the European Union, which accuses Beijing of violating World Trade Organization rules.
The European Commission has taken steps to restrict many Chinese imports with tariffs, often prompting Beijing to retaliate with its own anti-dumping duties.
China, the world's largest stainless steel producer, produced 26.71 million tonnes of stainless steel products in 2018, up 2.4% from a year ago, according to the China Stainless Steel Association.
According to the leaders of the European steel industry, Beijing introduced tariffs on Chinese steel before 2018. He has been accused of directing more exports to Europe and creating a massive oversupply.
EU steel imports have more than doubled since 2013, they said, while demand increased only marginally and, they said, is falling in 2019.