US imposes high penalties on steel imports from China

The US government is taking action against Chinese cold rolled steel producers by charging a customs duty of 266 percent. The European steel industry is still waiting for similar actions from the EU.

The United States has imposed high penalties on imports of some steels from China. The Commerce Department in Washington is considering evidence that Chinese steelmakers are dumping their products into the market at dumped prices. Therefore, the levied customs duties for steel from the People's Republic of China are between 256 and 266 percent, the ministry said on Tuesday. These steel grades are mainly used in the automotive and construction industries.

In Europe, meanwhile, the European Commission is being determined in relation to Russia and China on suspicion of dumping prices for some steel products. The EU Commission has already imposed sanctions on special plates from China, Russia, Japan and the United States based on complaints from European metallurgists.

In late April, Australia imposed tariffs against China to protect domestic industries. Massive overcapacity is not diminishing in the iron and steel sector, as the Chinese government recently admitted. The country is the largest steel producer in the world.