EU launches new investigation into Chinese steel products

The European Union (EU) launched a new investigation on Chinese steel products on Friday, claiming the case was subsidy-related, despite China's advocation against trade protectionism.

The products under investigation are imports of Chinese hot-rolled flat steel, over which a so called "anti-dumping" investigation is already ongoing since February, said the bloc's executive body the European Commission in a statement.

In both cases, the Commission decided to act early under the so-called "threat of injury" mechanism, an exceptional procedural approach that allows for taking action without having to wait for the proof of actual injury, it said.

The Commission now has up to nine months to establish whether conditions to impose provisional countervailing duties are met.

Beijing has long expressed concern over the EU's trade protectionism measures, saying they do not help in tackling global steel overcapacity, which the EU concludes is a major threat to its steel industry.

China always advocates against trade protectionism and maintains stable, predictable and fair trade environment, said China's Ministry of Commerce at the end of April. Endit