EU to Collect Countervailing Duties on Chinese Stainless-Steel Imports
Dou Shicong
/SOURCE : Yicai
EU to Collect Countervailing Duties on Chinese Stainless-Steel Imports

(Yicai Global) Aug. 11 -- The European Union said that it will collect 17.2 percent to 28.5 percent countervailing duties on Chinese stainless-steel imports to protect producers in at least 15 of its member countries.

The US Department of Commerce is also investigating iron and steel imports from China.

The EU said Chinese corrosion-resistant steel products including stainless steel are unfairly subsidized and dumped at prices lower than their costs. The EU will levy anti-dumping tariffs on these products in a move that will affect Chinese steel manufacturers including HBIS Group Co., Shougang Corp. and Jiangsu Shagang Group Co.

The EU has imposed anti-dumping tariffs on various Chinese steel products in recent years and has issued more than 40 punitive measures. The EU said last month that it would collect a 35.9-percent tariff on hot-rolled coils from China.

US President Donald Trump indicated in April that the US Department of Commerce would carry out a 270-day investigation into the iron and steel import situation as China's products may threaten American security.

The US Commerce Department set preliminary subsidy rates ranging from 16.56 percent to 80.97 percent for Chinese imports of aluminum foil earlier this week.

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Keywords: EU , Stainless Steel , Anti-Dumping Tariffs