ML-Implode News - EU imposes import duties of up to 73.7% on cheap Chinese steel (BUT UK TATA STILL IN TROUBLE)

The European Union has slapped tariffs of up to 73.7% on Chinese steel after manufacturers were forced to cut jobs due falling prices and demand for the material amid an influx of cheap imports from Asia... The EU has agreed to impose import duties of between 13.2% and 22.6% on Chinese hot-rolled steel, which is used in pipelines and gas containers, and 65.1% and 73.7% on heavy plates, which are used in civil engineering projects.
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"However, whilst the tariffs on heavy-plate steel are at a workable level, the duties on hot-rolled steel -- a crucial product of Tata Steel's Port Talbot plant -- won't deter Chinese steelmakers from further dumping. I sincerely hope these duties will be revised upwards at a later date.
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The future of Port Talbot and Tata Steel's 11,000 UK staff remains unclear as the Indian company considers a merger with German group ThyssenKrupp and tries to negotiate a rescue package with the UK government.

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EU imposes import duties of up to 73.7% on cheap Chinese steel (BUT UK TATA STILL IN TROUBLE)