China criticizes European import duties on steel

    China criticizes European import duties on steel

    Oct.9, Beijing: China has accused the European Union of hurting competition by imposing anti-dumping duties on Chinese steel, ratcheting up growing global tensions over a flood of low-cost Chinese exports.

    The EU duties announced Friday are the latest in a series of measures taken by Europe, the United States and other trading partners in response to what they say are improperly low prices for Chinese steel. They complain the flood of Chinese exports is depressing global prices, hurting foreign competitors and wiping out jobs.

    A Commerce Ministry statement said Chinese steel exports could not affect prices because they account for just 5 percent of the European market.

    "Rashly taking such wrong steps as trade protection and restricting fair market competition is not the right direction for development of the European Union steel industry," said the statement, dated Saturday.

    The Oslo Times International News Network


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