China Worried About Ongoing EU Steel Trade Limits

China's Concerns About EU Steel Trade Restrictions

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China has voiced its concerns regarding the European Union's persistent trade restrictions on steel imports, pledging to keep a watchful eye on the EU's future moves in this area, as stated by the Ministry of Commerce.

He Yadong, the spokesperson for the ministry, highlighted that the EU has put in place a series of restrictive measures. These measures include maintaining high tariff rates for several years and implementing over 60 anti-dumping and anti-subsidy actions on steel products from various countries and regions.

As a result, the European steel market has become notably laden with trade barriers, leading to increased product prices, according to He's remarks during a weekly news briefing held in Beijing.

The commerce official emphasized that the EU's actions are disrupting the established international trade order. This disruption leads to higher production costs downstream, adversely affecting consumer interests and doing little to support the stability of global industrial and supply chains.

Furthermore, these measures fail to promote the long-term development of domestic industries in the EU or contribute to a healthy market environment. China consistently advocates for the judicious and reasonable application of trade remedies while staunchly opposing unilateralism and protectionism through the inappropriate use of such measures, he added.

Source : China Daily