Reuters carrying a report from the Chinese Xinhua news agency 30 July 2016
- EU Commission's imposition of heavy anti-dumping duties on Chinese steel bars is "unjustifiable protection for the EU steel industry"
Xinhua is citing a statement from the Ministry of Commerce who expressed regret that the move came just weeks after the G20 meeting in China, where fin mins had committed to avoid protectionism.
China's monthly steel exports rose to their second highest on record in June at 10.94mln tonnes despite on-going complaints of dumping from around the globe, notably US and Europe. The issue has been headline news in the UK with the close-down or proposed sales of a number of steel plants arising in many job losses.
Seems to me like the heavy anti-dumping duties from the EU are long overdue.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
