On January 15, a European Union (EU) trade panel voted in favor of imposing temporary antidumping duties of 25 percent on imports of Chinese wire rods.
European steel producers had requested the additional tariffs on wire rods, alleging that Chinese exporters had an unfair advantage due to suspected subsidies in China which enabled them to buy cheap raw material.
Accordingly, the European Commission (EC), which oversees EU trade policy, will now decide whether to propose definitive duties lasting at least five years. EU trade ministers should approve any such move for it to take effect.
In December, the EU's antidumping committee had voted to adopt import duties of up to 87 percent on screws and bolts from China. In retaliation, China launched an anti-dumping probe into screws and bolts made in the European Union.