THE European Union has imposed tariffs as high as 66.4 % on steel road wheels from China, targeting manufacturers such as Zhejiang Jingu Co and Xingmin Intelligent Transportation Systems, reports Bloomberg.
EU tariffs hit Chinese steel wheels for vehicles including cars, tractors and trailers for alleged dumping, that is selling below cost, causing “material injury” to European manufacturers, the governing European Commission in its Official Journal.
The tariff represents complaints of the Association of European Wheel Manufacturers. The levies will last for six months, and may extend five years.
The EU has 11 manufacturers of steel road wheels, according to the commission. Chinese exporters’ combined share of the EU market for steel road wheels doubled to 5.3 % last year compared with 2015, according to the commission.
Source : Schednet