The EU prepares an investigation into Chinese steel

The European Union (EU) plans to open an anti-subsidy investigation against Chinese steel producers.

According to the Financial Times, based on two officials close to the matter, the corresponding investigation is scheduled to be announced at the summit to be held with the United States this month.

The EU had agreed to join US efforts to protect industries from cheap competition.

TRUMP CALLED THE EU

The United States had asked the EU to take action against Chinese steel producers in exchange for not reimposing customs duties imposed on EU steel by former President Donald Trump.

China’s Ministry of Commerce did not respond to questions about the Financial Times news.

US President Joe Biden will host European Commission President Ursula von der Leyen and EU Council President Charles Michel on October 20, just before the deadline to resolve the dispute over tariffs on steel products.

AN INVESTIGATION WAS ALSO STARTED INTO CHINESE CARS

The European Union (EU) also launched an investigation into subsidies for electric cars imported from China.

Last week, the official notification on the initiation of an investigation by the EU Commission into electric cars imported from China to the member countries of the Union was published in the Official Journal of the EU.

The notification stated that Chinese electric cars were subsidized and that this situation harmed the EU industry, and that the EU Commission launched an anti-subsidy investigation on its own initiative.

In the EU Commission’s statement on the issue, it was stated that “On the basis of the results of the investigation, the Commission will determine whether it is in the interest of the EU to eliminate the effects of unfair trade practices identified by applying anti-subsidy measures on imports of battery electric vehicles from China.” (REUTERS)