EU steelmakers to call for China tariffs

Steel producers including ThyssenKrupp and Arcelor Mittal will petition the EU on Monday to impose tariffs on Chinese steel imports, the Wall Street Journal reported, citing people familiar with the situation. They claim that China is selling steel in the EU cheaper than cost and thereby unfairly pushing European steelmakers out of the market. Going by recent statements – EU Trade Commissioner Peter Mandelson recently warned China that its "current level of steel production is unsustainable" – the petitioners may find a sympathetic ear in Brussels. China is Europe’s second-largest steel supplier, shipping 5.8 million metric tons last year. WTO rules allow countries to impose tariffs on goods if it is proved that the exporting nation is charging less than the cost of production or providing excessive subsidies. It would take the EU at least 10 months to introduce steel tariffs.