BRUSSELS (Reuters) - The European Union will impose duties on imports of Chinese steel road wheels for the next five years after concluding that they are sold at unfairly low prices.
The European Commission, which oversees trade policy for the 27 EU members, said on Wednesday it had set duties of 50.3% for some Chinese producers, including Xingmin Intelligent Transportation Systems (002355.SZ), and 66.4% for others.
The measures on wheels for cars, tractors, trailers, buses and fire engines come into effect on Thursday and will last for five years. The duties match those already set on a provisional basis in October.
“They will restore the level playing field for the European steel road wheels industry that has suffered from the dumped imports from China,” the Commission said in a statement.
Its investigation followed a complaint brought by the Association of European Wheel Manufacturers, whose website lists 26 producers across Europe, as well as in Turkey and Russia.
The investigation found Chinese companies exported 2 million steel wheels to the European Union in 2018 at dumped prices, doubling their share of the EU market from 2015 and putting at threat 3,000 EU jobs.
Brussels has accused Beijing of engaging in massive industrial subsidies and forced technology transfer.
The European Union has moved to limit Chinese imports via tariffs on products from bicycles to solar panels, in some cases prompting Beijing to retaliate with its own anti-dumping duties.
The EU has to the date put in place 52 trade defence measures on steel products, 28 of which concern products imported from China.
Reporting by Philip Blenkinsop; Editing by Elaine Hardcastle