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EU to impose import duties on Asian steel

The European Commission is speeding up its assessment of possible taxes on cheap steel from Asia following an alert from European producers.

They reported last week that a wave of dismissal seems to be unavoidable now that the Chinese steel that is not entering the United States due to large American import duties.

According to the collected European steelmakers, they have lost $ 40 billion in market value in a year. ArcelorMittal reduced its production twice in Europe.

On behalf of the 28 member states, the European Commission stated that, in addition to accelerating its examination of import duties, it was also alert to any signal from European producers to ensure “fair conditions” for the industry.

The steelmakers will not get a reply soon. The study on import duties will not be ready before the end of the month, according to a statement from the European Commission.

“Everything collapses, we are flooded,” said Geert van Poelvoorde, director at ArcelorMittal Europe.

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