EU slaps new anti-dumping duties on Chinese steel

The European Union slapped Chinese steel imports with new anti-dumping duties Thursday, heightening a growing conflict in which each side accuses the other of unfair trade practices, The Wall Street Journal reports. The European Commission introduced levies ranging from 18.1% to 35.9% for five years starting Friday on certain hot-rolled flat steel products from China. The definitive duties increased from provisional tariffs of 13.2% to 22.6% imposed in October. China has previously criticized the EU’s broadening efforts to protect European steelmakers, calling on Brussels to treat Chinese companies “fairly” as the commission rolls out a record number of trade measures to defend the bloc’s steel industry. The EU’s moves come amid a global steel glut. Major producers, including China, are trying to sell their products at low prices, undercutting European firms.