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EU slaps tariffs on China aluminum products

 EU slaps tariffs on China aluminum products Slow manufacturing: New buses are seen lined up for export at a port in Lianyungang in east China’s Jiangsu province on Wednesday. Chinese factory activity slowed in October, official data showed on Wednesday, adding to a growing list of bad news for the Asian giant as it struggles to maintain economic momentum in the face of United State tariffs and a weakening yuan. (AFP/-)
News Desk
Bruxells, Belgium   ●   Mon, April 12, 2021 2021-04-12 19:11 24 0920e6703081f028872405a5263838ac 2 Business China,aluminum,EU,tariffs Free

The EU on Monday slapped tariffs on certain aluminum imports from China that Brussels said were sold at artificially low prices in Europe.

The provisional tariffs came after complaints by European aluminum producers that said cheap Chinese imports were putting them out of business.

The tariffs were decided after an investigation by the European Commission, which handles trade matters for the bloc's 27 member states and were announced in the EU's official journal.

China is widely accused of maintaining overcapacity in the state-backed steel and aluminum sector, which has provoked a wave of tit-for-tat tariff decisions over the past decade.

Read also: China, Indonesia sign $695m deal for West Kalimantan alumina smelter

In the meantime, efforts to negotiate a global solution to stop Chinese overproduction in metals have failed and the US Trump administration sparked a trade war with China in 2018 over the issue.

The new tariffs will range between 19.3 percent and 46.7 percent and affect flat-rolled aluminum products.

The EU will continue its probe at the conclusion of which the provisional tariffs could be made definitive, lasting five years.

"We are grateful the Commission is taking the necessary steps to protect our industry against unfair competition," said Gerd Goetz, director general of European Aluminium, the association behind the complaint.