China slams EU anti-dumping tariffs on steel as ‘unfair’

Views: 29

Beijing, July 30 (IANS) The Chinese Ministry of Commerce has protested against anti-dumping measures for steel products announced by the European Union (EU), saying the response is “unjustifiable”.

The step “lacked justifiable grounds”, claimed the ministry in a statement on Friday, arguing it was based on higher profit targets for European producers amid a global crisis in the iron and steel sector, EFE news reported.

According to China, steel bars imported by the EU did not affect the latter’s market, as most of them were sold to Britain and Ireland to meet the high local demand for infrastructure during a period of recovery.

Beijing also rued that the EU decision comes too soon after G20 trade ministers reached “a consensus to avoid protectionism”.

ALSO READ:   Infinix to launch new smartphone under Rs 10,000 in India

In the scenario, the ministry urged the EU to “keep its promises made on international occasions and refrain from sending the wrong signals to the outside world”.

On Friday, the European Commission imposed anti-dumping duties ranging from 18.4 to 22.5 per cent on Chinese rebars used to reinforce concrete in construction.

The anti-dumping probe on Chinese-made steel products began on April 30, 2015, following a complaint by the EU industry and leading to preliminary sanctions that are now declared definitive and will stay in place for five years.



Comments: 0

Your email address will not be published. Required fields are marked with *