EU Steps Up Trade Actions, Investigations Regarding Chinese Products
The European Union is stepping up trade measures against China. According to the Automotive News, on October 10 the European Commission threatened to open “an inquiry into whether Chinese producers of hot-rolled, stainless-steel sheets and coils receive market-distorting government aid.”
If the EU moves forward with the threatened investigation, the probe could take up to 13 months.
The EU also announced last Thursday that it will impose tariffs as high as 66.4 percent on steel road wheels for cars, light trucks, tractors, and trailers from Chinese manufacturers, including Zhejiang Jingu Co. and Xingmin Intelligent Transportation Systems Co. The penalties took effect on Friday, October 11 and will remain in place for at least six months. (The tariffs could be extended up to five years.)
The complaint was brought to the EU by the Association of European Wheel Manufacturers. Exports of steel wheels to the EU doubled from 2015 to 2018 and now comprise 5.3 percent of the EU market. Automotive News reported that the rates of the provisional anti-dumping duties are 50.3 percent against 19 Chinese exporters, including Zhejiang Jingu and Xingmin Intelligent Transportation Systems, and 66.4 percent for all other manufacturers.