The European Union is planning to launch anti-subsidy investigations against Chinese steelmakers to protect its domestic markets from cheap competition, according to a media report by the Financial Times.
This move came after the US called on the EU to take action against Chinese steel producers in return for avoiding the reimposition by the US of the 25 percent tariff on EU steel.
European Commission President Ursula von der Leyen, European Council President Charles Michel and the US President Joe Biden will come together on October 20 to finalize the steel and aluminum tariff dispute between the two sides by the deadline of October 31 this year, and also to promote green production and address the issue of overcapacity, especially focusing on China, as SteelOrbis previously reported.