World Bulletin / News Desk
The European Commission on Friday extended anti-dumping duties on steel ropes and cables from China for another five years.
In a statement, the commission said that anti-dumping duties of 60.4 percent have been in place since 1999 and this was the third expiry review, extending measures at the same level for a further five years.
It added the products consigned from Morocco and the Republic of Korea were also subject to these duties.
"The expiry review investigation found evidence that dumping from Chinese companies would continue should measures be allowed to lapse, which would have a negative financial impact on the EU steel industry," it said.
The steel sector is "vital" for the EU's economy and it provides jobs for hundreds of thousands of European citizens.
"The global surplus in steelmaking capacity has driven down steel prices to unsustainable levels in recent years and had a damaging impact on the steel sector, as well as related industries and jobs," the commission said.
It added the EU uses full potential of its trade defense toolbox to ensure a level-playing-field for its producers and their ability to maintain jobs in the sector.Last Mod: 20 Nisan 2018, 17:21