The European Union can introduce import duties on steel from Turkey because it may be dumped cheaply on the European market. Brussels is researching the practices.

The investigation follows a complaint from the European Steel Industry Association about imports of Turkish steel below cost in Europe. The EU had previously imposed import duties on steel from, for example, China, Russia and Ukraine because it was dumped on the European market, which is harmful to European steel manufacturers such as ArcelorMittal and Thyssenkrupp. They have been complaining about cheap foreign steel on the European market for some time.

The European Commission now has eight months to decide on provisional import tariffs on Turkish steel and fourteen months to decide on definitive levies, which usually remain in force for five years.

Load More Related Articles
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Credit Suisse helping Russian clients evade sanctions, US authorities suggest

The suspicions surrounding Credit Suisse’s alleged involvement in helping Russian cl…