The European Union slapped new duties on Chinese steel products over the weekend and China was not too happy about it. “The European Commission ignores the fact that China’s steel exports to Europe clearly declined in 2016, using China’s steel overcapacity as an excuse to claim that China’s hot-rolled flat steel products threaten to damage industry in the E.U. The thing is, China has been doing this for about 15 years, so why is the E.U. Europe also imposed anti-dumping duties on China’s stainless steel tubing back in January. China says it does not subsidize steel exports, but did not mention other special loan programs for the industry whether they are importing or not.

Source: Forbes June 12, 2017 12:11 UTC