Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

EU imposes import duties on China, Indonesia, Taiwan stainless steel

Published 10/07/2020, 07:25 AM
Updated 10/07/2020, 07:45 AM
© Reuters. A stainless steel product line is seen at a factory of Baosteel Group Corp in Shanghai

© Reuters. A stainless steel product line is seen at a factory of Baosteel Group Corp in Shanghai

BRUSSELS (Reuters) - The European Union will impose tariffs on imports of hot-rolled stainless steel coils and sheets from China, Indonesia and Taiwan after an investigation found they were being sold at artificially low prices.

The European Commission, which conducted the investigation, has set duties of up to 19% for imports from China, of 17.3% for product from Indonesia and up to 7.5% for stainless steel from Taiwan, the EU's official journal said on Wednesday.

The Commission said that the anti-dumping duties, to take effect from Thursday, aim to remedy the damage caused to EU producers located mainly in Belgium, Italy and Finland.

© Reuters. A stainless steel product line is seen at a factory of Baosteel Group Corp in Shanghai

(This story was refiled to add Taiwan to headline)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.