The European Commission has concluded that China is providing illegal subsidies to its steel manufacturers, paving the way for European companies to seek higher import tariffs on a wide range of Chinese products.
The EU executive arm said Beijing was helping makers of organic coated steel – used in construction and household appliances – to obtain raw materials at below market prices, according to a report obtained by the Financial Times.
The report comes amid escalating tensions between China and the EU across a range of industries from solar panels to telecommunications equipment. It recommends hitting imports of Chinese coated steel with countervailing duties of up to 50 per cent.
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