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EU announces temporary tariffs on Chinese stainless steel products, involving Shougang
The European Commission has announced a temporary import tariff of up to 28.5% on some stainless steel products from China.
The European Commission said in a statement that some stainless steel products from China enjoyed unfair subsidies and will be subject to import tariffs ranging from 17.2% to 28.5%. The Chinese steel companies involved include Hegang Group, Shougang Group and Shagang Wait. The EU will hold a hearing within 25 days, and these companies can file a complaint at the hearing.
In recent years, the European Union has implemented anti-dumping measures against Chinese steel products many times. On April 6 this year, the European Union announced that it would impose an anti-dumping duty of 18.1% to 35.9% on hot rolled coils imported from China in the next five years.
Wang Hejun, director of the Trade Relief Investigation Bureau of the Chinese Ministry of Commerce, previously said that China is highly concerned about the protectionist tendencies shown by the European side in the steel sector. The implementation of trade protection measures not only does not help to fundamentally solve the problem of global steel overcapacity, but also hinders the normal international trade order and is not conducive to the sustainable development of the global steel industry.