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EU Sets Tariffs on Two Steel Products from China
10/07/2016 - The European Union is imposing provisional anti-dumping duties on hot-rolled sheet and heavy plate from China, saying that the products were being sold at “heavily dumped prices.”
As a result, the European Commission on Friday set duties of between 65.1% and 73.7% for heavy plates and of between 13.2% and 22.6% on hot-rolled sheet.
“This should restore the profitability of the European heavy plates' producers and prevent damage to the companies involved in the production of hot-rolled steel products,” the commission said in a statement.
The commission, the European Union’s executive branch, said it already has imposed 37 anti-dumping and countervailing duties on steel products, 15 of which are on products from China. Twelve more steel-related investigations are continuing, it said.
“The Commission has been using the available toolbox of trade defense instruments to the full extent possible, but it's necessary to strengthen these mechanisms to bring them up to the reality of the current state of globalization,” the commission said.
It called on member countries to support a 2013 proposal to revise its trade laws, allowing for higher duties on dumped goods.
The investigations arose on a complaint from Eurofer, the European Steel Association, which applauded the decisions.
“It’s positive that the commission has been able to implement these provisional measures faster than usual, after about eight months rather than the usual nine,” Charles de Lusignan, the association’s communications manager, told The Wall Street Journal.
“It shows (the commission is) taking seriously the need to more quickly defend the industry against unfair dumping of steel,” he said.
“This should restore the profitability of the European heavy plates' producers and prevent damage to the companies involved in the production of hot-rolled steel products,” the commission said in a statement.
The commission, the European Union’s executive branch, said it already has imposed 37 anti-dumping and countervailing duties on steel products, 15 of which are on products from China. Twelve more steel-related investigations are continuing, it said.
“The Commission has been using the available toolbox of trade defense instruments to the full extent possible, but it's necessary to strengthen these mechanisms to bring them up to the reality of the current state of globalization,” the commission said.
It called on member countries to support a 2013 proposal to revise its trade laws, allowing for higher duties on dumped goods.
The investigations arose on a complaint from Eurofer, the European Steel Association, which applauded the decisions.
“It’s positive that the commission has been able to implement these provisional measures faster than usual, after about eight months rather than the usual nine,” Charles de Lusignan, the association’s communications manager, told The Wall Street Journal.
“It shows (the commission is) taking seriously the need to more quickly defend the industry against unfair dumping of steel,” he said.
