The EU is planning to announce investigations into Chinese steelmaking subsidies at a summit with the US this month, the Financial Times (FT) reported yesterday.
Brussels had agreed to join Washington’s efforts to shield industries from cheap competition, the report said, citing two officials with knowledge of the move.
Washington had asked Brussels to move against Chinese steel producers in return for avoiding the reimposition of tariffs on EU steel by former US president Donald Trump, the newspaper said.
Photo: AFP
The US has imposed a 25 percent tariff on steel imports from Europe since 2018 and the EU applies about the same level of duties on an array of steel imports under its own safeguard measures.
US President Joe Biden is to host European Commission President Ursula von der Leyen and European Council President Charles Michel on Friday next week, just before a deadline to resolve a bilateral dispute over steel tariffs.
Last month, Brussels launched an investigation into whether to impose punitive tariffs to protect EU producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies.
China complained about the “very short” time provided by Brussels to engage in consultations for the bloc’s inquiry into subsidies for EVs.
Beijing also urged Brussels to safeguard the stability of the global supply chain and a strategic partnership between the two, while “prudently” applying trade remedies.
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