Business
12:24, 21-Apr-2018
EU extends anti-dumping duties on Chinese steel ropes, cables
["china"]
Share
Copied
The European Union has decided to extend anti-dumping duties on imports of Chinese steel ropes and cables for a further five years, according to the EU official journal published on Friday.
The anti-dumping duties of 60.4 percent have been in place since 1999 and this is the third expiry review.
The European Commission, which oversees trade policy for the 28-country European Union, concluded that repealing the measures would likely result in a surge of steel ropes and cable imports from China at prices undercutting local producers.
As a result of a previous anti-circumvention investigation, products consigned from Morocco and S. Korea are also subject to these duties.
The EU imported some 123.25 million dollars worth of steel rope and cables in 2016, equivalent to a market share of about 40 percent.
Source(s): Reuters
,Xinhua News Agency