The EU raised tariffs on Chinese stainless steel, up to 28.5%
Aug 12, 2017

The EU raised tariffs on Chinese stainless steel, up to 28.5%

On Thursday, sina finance quoted U.S. media reported that the EU to improve Chinese stainless steel on tariff rate up to 28.5%.

In recent years, many EU anti dumping grounds imposed tariffs on a variety of steel products from the China.

In early 6, the European Commission ruled that punitive tariffs on imports of China hot-rolled coil 35.9% levy the reason is "Chinese by some enterprises from state-owned banks preferential loans, tax, the use of industrial land receiving unfair subsidies etc.".

European Union Trade Commissioner Mame Strom said in a statement, "when necessary, we will continue to take action to correct unfair trade conditions and foreign dumping in the steel industry."".

She added that international discussions on overcapacity in steel would allow China to abandon its unfair industrial model and ensure equal competitive conditions for all steel producers.

Investment bank Jefferies commented at that time: "the European Union's decision marks the beginning of the European Union to face the threat of injury," the European Commission's policy stance has undergone a significant change." The bank expects the European steel industry group will require the European Commission to launch more countervailing investigations.

In August last year, the EU anti-dumping rates on China's rebar and cold-rolled steel coils increased by nearly 10% and 6%, respectively, to 18.4%-22.5% and 19.8%-22.1% respectively.

In February last year, the European Union decided that the dumping of stainless steel from China caused substantial damage to European manufacturers, so the anti-dumping duty levied on them would be between 13.8% and 16%, and it would last 6 months. The tax may be extended for 5 years, depending on the end result of the investigation.

Up to now, the EU has imposed more than 40 punitive measures on China's cold-rolled steel sheet and stainless steel imports.

In recent years, China's steel exports increased sharply, so that the European and American steel mills are under heavy pressure, and overseas steel mills are blaming factories for closing and laying off their Chinese counterparts and putting pressure on politicians. This makes Chinese EU admit China market economy difficult.

Not only China, but even the United States has criticized China's steel industry policy. This triggered bilateral trade friction between the two countries in the steel field.

In April this year, Trump with a large number of imported steel could threaten the security of the United States on the grounds that the investigation and assessment for a period of 270 days of the actual situation indicates the Ministry of Commerce on steel imports, which sparked the suspicion that the US government may take new non-tariff measures to China etc. steel exporter.

Reuters reported last month, Trump said, is to consider the use of quotas and tariffs, the large steel dumping to deal with from the China and other countries, "and they destroy our iron and steel industry in the dumping of steel, for decades, they always do, I want to stop. This practice will stop."

The China in early June on the new EU anti-dumping measures expressed strong protest, said it makes no sense, thoughtless, and said the European Union due to lack of understanding of business development and loan system of China, draws the investigation conclusion wrong. Chinese officials of the Ministry of Commerce Wang Hejun said that the EU exports to Europe in 2016 to ignore China steel significantly diminished by the fact that the Chinese steel overcapacity as an excuse to claim that China products of hot rolled coil threaten the EU steel industry, this is actually the fact that has nothing to do with.

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