The European Commission has imposed anti-dumping duties on products from China and Russia

The EU has imposed definitive anti-dumping duties on imports of flat, cold-rolled steel products from China and Russia – with the provision that they should remain in place for five years.

The taxes for the first time, also, will be charged retroactively on the imports registered during the two months. And they preceded the adoption of provisional measures on February 12, 2016.

The investigation was initiated on May 14, 2015 as a result of a complaint filed by the industry. Taxes vary from 19.7% to 22.1% for products from China. And from 18.7% to 36.1% for Russian companies.

As a result of the global crisis caused by steel overcapacity, the European Commission declares that it is applying trade protection instruments to restore a fair competitive environment between foreign producers and the EU. The expected measure comes days after the EU imposed tariffs on steel products used to reinforce concrete.

„This shows our continued efforts to make full use of the trade tools available to fight against unfair imports of steel products.” Said Mina Andreeva, spokeswoman for the European Commission.

Cold rolled steel flat products are used in the production of packaging, the automobile industry and the construction industry.

In recent years, European manufacturers have filed several complaints against their Chinese competitors. They exported steel products to Europe, at unfair prices.

„We believe that the anti-dumping investigation procedure was carried out in an inadequate way. Also, with violations of the rights of Russian exporters” declared the Minister of Economy, Alexei Uliukayev.

Article source: http://www.wsj.com/articles/eu-slaps-anti-dumping-tariffs-on-some-chinese-russian-steel-imports-1470308828?mod=e2tweu