EU to investigate Chinese steel subsidies blamed for dumping
The European commission has launched an inquiry into Chinese subsidies for steel sold to the EU after European steelmakers warned that dumping was likely to increase.
The inquiry is based on a submission from the European Steel Association (Eurofer), claiming that Chinese producers benefit from government subsidies such as preferential lending rates and low energy charges. The subsidies have allowed Chinese companies to export to the EU at prices that damage European steel producers, the association said.
The European commission said Eurofer had also provided credible evidence that imports would increase soon as China diverts steel to the EU from the US and other countries that have clamped down on dumping.
The inquiry is the first move announced by the commission sinc...
