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Chi slams EU anti-dumping tariffs on steel as 'unfair'

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  31 July 2016 12:00 AM GMT

Beijing, July 30: 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 Chi, 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”.

In the scerio, the ministry urged the EU to “keep its promises made on intertiol occasions and refrain from sending the wrong sigls 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 prelimiry sanctions that are now declared definitive and will stay in place for five years. (IANS)

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