EU Imposes Tariffs on Chinese Steel Tower Imports
- December 17, 2021
- Posted by: Quatro Strategies
- Category: Cleantech
The European Union is set to impose tariffs on Chinese imports of steel towers used to produce wind turbines. The bloc concluded after an investigation that they were being sold at artificially low prices. The European Commission has imposed duties ranging from 7.2% to 19.2%.
The commission said the tariffs will be applied for five years, and they aim to fix the damage caused to EU producers like Denmark and Spain.
The commission launched the investigation after a complaint from the European Wind Tower Association. It took production costs in Mexico as “normal” price for a tower and compared them to China, finding prices were significantly lower.
The investigation also found that China’s share in the EU market was increased by 34% from 2019. 80% of all steel tower imports into the EU come from China.
Get your daily Business Brief
Business Brief delivers the latest insights straight to your inbox
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business