EU tightens steel tariffs, China warns of retaliation.

VTV.vn - Beijing hopes to achieve mutually beneficial results with the EU but affirms it will protect the rights of Chinese businesses and products.

Workers at the Baoshan Iron & Steel Co. factory in Baoshan District, Shanghai, China - Photo: Bloomberg

China's Ministry of Commerce announced on May 28 that it is in negotiations with the European Union within the framework of the World Trade Organization. This move aims to resolve the dispute surrounding the EU's plan to impose new tariffs on Chinese steel imports starting July 1.

The tariff on China's excess steel imports will be doubled from 25% to 50%. Therefore, speaking to reporters on May 28th, Chinese Ministry of Commerce spokesperson He Yadong stated that Beijing expects this round of negotiations to achieve mutually beneficial results, while promoting the stable and healthy development of economic and trade relations with the EU.

At the same time, China also warned that if the EU applies discriminatory measures against Chinese businesses and products, Beijing will resolutely take corresponding countermeasures to protect its legitimate interests.

Previously, on May 19, the European Parliament (EP) officially approved a decision to double the tax on imported steel, a move aimed at protecting the European Union's steel industry from the influx of cheap exports from China.

With 606 votes in favor and 16 against, EU lawmakers agreed to increase tariffs on imported steel to 50%, while cutting the volume of steel allowed for import before the tariffs were imposed by 47%.

According to new measures proposed by the European Commission (EC) last year, the duty-free import quota for this product will be reduced to 18.3 million tonnes per year. This figure is equivalent to the total volume of steel that the EU imported in 2013.

Once formally approved by EU member states, this regulation will become law and come into effect on July 1, 2026.

Source: https://vtv.vn/thue-thep-eu-siet-chat-trung-quoc-canh-bao-bien-phap-dap-tra-100260529060730414.htm