EU Plans Anti-Subsidy Probe Into Chinese Steelmakers – FT

The European Union is planning to announce anti-subsidy investigations against Chinese steelmakers at a summit with the U.S. this month, the Financial Times reported on Tuesday.

Brussels had agreed to join Washington’s efforts to shield industries from cheap competition, the report said, citing two officials with knowledge of the move.

Washington had asked Brussels to move against Chinese steel producers in return for avoiding the re-imposition of Trump-era tariffs on EU steel, the newspaper said.

China’s Ministry of Commerce did not immediately respond to a request for comment on the report.

U.S. President Joe Biden will host European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20, just before a deadline to resolve a bilateral dispute over steel tariffs.

In September, Brussels launched an investigation into whether to impose punitive tariffs to protect EU producers against cheaper Chinese electric vehicle (EV) imports it says are benefiting from state subsidies.

China complained about the “very short” time provided by Brussels to engage in consultations for the bloc’s inquiry into subsidies for EVs.

Beijing also urged Brussels to safeguard the stability of the global supply chain and a strategic partnership between the two, while “prudently” applying trade remedies.

(Reporting by Nilutpal Timsina in Bengaluru. Additional reporting by Amy Lv in Beijing; Editing by Jacqueline Wong & Simon Cameron-Moore)