Commenting on the increase in steel tariffs by the United States on Chinese imports, Gareth Stace, Director of UK Steel, said:
“The United States has quickly identified the problem with China dumping steel and imposed effective and robust trade barriers. The EU has been slower and the result is we’re still haggling over tariffs and action to prevent unfairly traded Chinese steel. Britain and the EU need to stop treading on egg shells and take decisive action following America’s impressive lead.
“China has promised to work to tackle global oversupply but, instead, continues to dump cheap steel on the world market. If any demonstration were needed that China isn’t accepting its responsibility to work with the rest of the world steel industry to address this problem then this is it.”
The EU has imposed provisional tariffs on China of 16% for cold rolled steel.
The United States previously had 266% tariffs and has now raised this to 522% for cold rolled steel in response to China’s refusal to co-operate with anti-dumping investigations.