EU Asian Economic Commission initiates anti-dumping investigation on the original steel wedge gate valve products from China

Foreign Media June 22 news: The EU will extend the quota and tariff system since 2018 to three years to protect EU steel manufacturers from potential import surges. Washington retains 25% of steel tariffs, closes many exporters to the US market, and prompted the EU to take support measures to include 26 steels including stainless steel, levied tariffs for import products that exceed quota thresholds. The quota is increasing every year. The 12 EU countries, including France, Germany and Italy urged the EU Executive Committee to extend the protection measures to the date of expiration of June 30. The Executive Committee responsible for monitoring the EU trade policy has reviewed these measures and proposed for three years. At the beginning and 2022 and 2023, the quota will increase by 3%. EU diplomat said that EU member states have approved this proposal. Since the guarantee measures will last for more than three years, counterfeit measures can be taken according to the World Trade Organization (WTO) rules, the quotas restrictions can take countermeasures, such as impact tariffs for EU products. The country exported to the EU is mainly China, India, Russia, South Korea, Turkey and Ukraine. (Overseas steel)