The Commission began an investigation into the imports in May 2015 following a complaint from the European Steel Association, it said.
Advertisement
The bloc had provisionally imposed tariffs in February, but the new rates are significantly higher.
Gareth Stace, director of UK Steel, said: “Slapping tariffs on under-priced steel from China and Russian Federation is hugely welcomed by steel producers in the UK”.
Cold-rolled steel, used in the packaging, white goods, automotive and construction industries, will be taxed at between 19.7% to 22.1% for imports from China and between 18.7% to 36.1% for imports from Russian Federation for the next five years to stop the nations’ industries from flooding Europe with cheap steel.
This story has not been edited by Firstpost staff and is generated by auto-feed.
The tariffs range from between 19.7% to 22.1% for companies from China to between 18.7% to 36.1% for those from Russian Federation, and are particularly targeted at producers of cold rolled steel, which is used in the manufacturing of everything from white goods to cars.
The Chinese tariffs hit grain-oriented electrical steel, used in the manufacture of large generators and electricity transformers.
China’s Commerce Ministry said that the duties against two of its steel firms would weaken the EU’s downstream manufacturing sector, which relies on global trade to sell, market and distribute products outside of the bloc.
A Business Department spokesman said: “It’s very positive to see these tariffs being imposed to stop unfair steel dumping”.
Speaking to reporters during a visit to Laos, Mr. Ulyukayev said Moscow may engage the World Trade Organization to find a solution to the issue.
They also requested the DGAD to impose anti-dumping duty on shipments of steel from these countries. The result has been a flood of cheap products shipped to Europe, the US and other developed markets.
The EU should avoid the abuse of trade remedy measures and “avoid sending a wrong signal to the outside world”, according to the MOC.
Advertisement
“Steelworkers are highly skilled specialists and they deserve our unconditional support”, European Commission President Jean-Claude Juncker told EU lawmakers earlier this year.
