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New round of import duties imposed by the EU



New tariffs imposed



09.Nov.20 10:49 AM
By Shawn Highstraw
Photo Eufer

   563

New round of import duties imposed by the EU

The European Union is waiving a new round of import duties on steel from China and Indonesia. The step follows the withdrawal of a complaint from the European steel industry association. That complaint was the basis of an investigation by the European Commission into the dumping practices that started in October last year.

Last month, the import duties on hot-rolled stainless steel coils and plates from China and Indonesia were increased to a maximum of 19%. These measures aim to prevent cheap steel from being dumped on the European market from those countries, with harmful consequences for European steel companies such as ArcelorMittal and Aperam listed in Amsterdam or the German Thyssenkrupp. Higher tariffs were also imposed on steel originating in Taiwan.

The European steel industry association Eurofer had complained that Chinese and Indonesian steel companies had received state aid allowing them to sell steel below cost in Europe. Why Eurofer's complaint was withdrawn was not reported in the commission's statement.



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