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EU slaps tariffs on Chinese, Taiwanese steel imports


EU slaps tariffs on Chinese, Taiwanese steel imports


From Thursday the EU begins imposing import duties on Chinese and Taiwanese cold-rolled flat stainless steel.

Since a complaint filed by European producers in May 2014 the EU has been considering the case. Now Chinese steelmakers will have to pay a 25.2% import duty, while Taiwan will pay 12%.

The pair are accused of dumping, or selling at unfairly low prices as they grabbed 17% of the European market share for steel. They more than tripled their exports to the EU in the 2010-2014 period more because of domestic overcapacity than European demand.

The investigation, which is also looking into allegations of illegal subsidies, concludes in September. Analysts say that while the duties will not end Chinese steel imports, they will have a significant effect.

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