A top Chinese envoy here said Tuesday trade between South Korea and China is likely to slow down because of the worldwide frozen
11/02/2009 12:00
BRUSSELS, Feb 10 (Reuters) - The European Union has imposed temporary antidumping duties of up to 25 percent on imports of Chinese-made steel wire rods, but will not to put extra tariffs on other Chinese steel products, the EU's Official Journal said.
Brussels has also imposed antidumping duties of around 4 percent on imports of steel rods -- mainly used in construction -- from Moldova, the journal said on Tuesday. ruction -- from Moldova, the journal said on Tuesday.
The tariffs remain for six months until the European Commission, which oversees trade policy for the 27-nation bloc, decides whether to propose "definitive duties" for at least five years, which must then be approved by trade ministers.
Trade disputes between Brussels and Beijing have risen since the EU's trade deficit with China has ballooned, hitting 160 billion euros ($206.3 billion).
Last month the EU imposed duties of up to 87 percent on screws and bolts from China, triggering retaliatory action by Beijing at the World Trade Organisation, the global trade watchdog.
The Group of 20 emerging and developed countries have pledged to avoid using protectionist measures to fight the worst economic slowdown since World War Two.
China says Brussels is protecting European companies amid the worst global economic slowdown in 80 years and EU antidumping decisions conflict with the pledge of the Group of 20 emerging and developed countries (G20) to avoid using protectionist measures to fight the financial crisis.
PROTECTIONISM
Brussels -- which rejects China's claim of protectionism -- hopes its decision not to place duties on hot-dipped metallic-coated iron or steel flat-rolled products will show Beijing that any imposition of duties is based on world trade rules and is not aimed at shielding EU manufacturers.
International rules allow countries to impose extra duties on goods that are "dumped" -- imported at prices below what is paid in their home market -- if the dumping injures businesses in the importing country.
The European steelmakers association Eurofer, which represents Thyssen Krupp (TKAG.DE), ArcelorMittal (ISPA.AS) and other steel giants, requested the Chinese steel probes. They claim steel producers in China are fed by state subsidies leading to an excess in capacity and were dumping steel products into the 27-member bloc below market prices.
Chinese Commerce Ministry spokesman Yao Jian said China "welcomed and praised" the EU's decision not to impose duties on hot-dipped and flat-rolled steel.
He added that he hoped that in other pending anti-dumping cases, Brussels "can maintain an objective, fair position, and issue rulings that are in line with WTO regulations."
Brussels has also imposed antidumping duties of around 4 percent on imports of steel rods -- mainly used in construction -- from Moldova, the journal said on Tuesday. ruction -- from Moldova, the journal said on Tuesday.
The tariffs remain for six months until the European Commission, which oversees trade policy for the 27-nation bloc, decides whether to propose "definitive duties" for at least five years, which must then be approved by trade ministers.
Trade disputes between Brussels and Beijing have risen since the EU's trade deficit with China has ballooned, hitting 160 billion euros ($206.3 billion).
Last month the EU imposed duties of up to 87 percent on screws and bolts from China, triggering retaliatory action by Beijing at the World Trade Organisation, the global trade watchdog.
The Group of 20 emerging and developed countries have pledged to avoid using protectionist measures to fight the worst economic slowdown since World War Two.
China says Brussels is protecting European companies amid the worst global economic slowdown in 80 years and EU antidumping decisions conflict with the pledge of the Group of 20 emerging and developed countries (G20) to avoid using protectionist measures to fight the financial crisis.
PROTECTIONISM
Brussels -- which rejects China's claim of protectionism -- hopes its decision not to place duties on hot-dipped metallic-coated iron or steel flat-rolled products will show Beijing that any imposition of duties is based on world trade rules and is not aimed at shielding EU manufacturers.
International rules allow countries to impose extra duties on goods that are "dumped" -- imported at prices below what is paid in their home market -- if the dumping injures businesses in the importing country.
The European steelmakers association Eurofer, which represents Thyssen Krupp (TKAG.DE), ArcelorMittal (ISPA.AS) and other steel giants, requested the Chinese steel probes. They claim steel producers in China are fed by state subsidies leading to an excess in capacity and were dumping steel products into the 27-member bloc below market prices.
Chinese Commerce Ministry spokesman Yao Jian said China "welcomed and praised" the EU's decision not to impose duties on hot-dipped and flat-rolled steel.
He added that he hoped that in other pending anti-dumping cases, Brussels "can maintain an objective, fair position, and issue rulings that are in line with WTO regulations."
(Additional reporting by Jason Subler in Beijing, Editing by Dale Hudson)
Tue Feb 10, 2009 12:38pm GMT
By Darren Ennis
Source: uk.reuters.com
Tue Feb 10, 2009 12:38pm GMT
By Darren Ennis
Source: uk.reuters.com
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