By Valentina Pop in Brussels and Eva Dou in Beijing 

The European Union on Friday imposed anti-dumping tariffs on certain Chinese steel imports, as the bloc steps up efforts to protect European steelmakers struggling with overcapacity.

The duties range from 18.4% to 22.5% and apply to so-called rebars, steel products used to reinforce concrete.

European manufacturers in recent years have lodged multiple complaints that their Chinese competitors are exporting steel products to Europe at unfairly low prices. The EU carried out an investigation and at the end of January imposed lower, provisional anti-dumping duties, which are now being replaced by the definitive duties.

Under World Trade Organization rules, the EU can impose anti-dumping duties on products from countries outside the bloc if an investigation demonstrates that these products enter the EU at prices below fair market value and cause injury to the EU industry.

China's Ministry of Commerce called the EU decision "unreasonable" and said it discriminated against Chinese products.

"In its essence, this action is an artificial obstacle, an exclusion of Chinese products, and unfair protectionism for EU industry," the ministry said in a statement posted on its website.

The decision comes amid a continuing investigation into unfair trade practices by Chinese steel manufacturers, after a complaint lodged in March by European steel association Eurofer, which represents more than 25% of total EU rebar production. Eurofer on Friday said it welcomed the decision.

Currently the EU has 37 anti-dumping and antisubsidy measures in place in the steel sector, of which 15 concern China.

European industries say that the Chinese industrial policies allow local producers to pump out far more goods than its domestic market can consume. The result has been a flood of cheap products shipped to Europe, the U.S. and other developed markets.

China, the world's largest steel producer, has doubled its exports to the EU over the past two years, while the bloc's demand languishes below levels seen before the 2008 financial crisis. EU steel prices have fallen roughly 40% over the past two years.

Write to Valentina Pop at valentina.pop@wsj.com and Eva Dou at eva.dou@wsj.com

 

(END) Dow Jones Newswires

July 30, 2016 03:59 ET (07:59 GMT)

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