17:34 Aug. 5, 2016
European five-year tariffs against Russian steel producers to reach 36 percent
On August 4, the EU imposed definitive anti-dumping measures on cold rolled steel from China and Russia, according to the European Commission press release.
These duties will stay in force for five years and for the first time they will also be levied retroactively on imports registered during the two months before the adoption of provisional measures on February 12, 2016.
The investigation was initiated on May 14, 2015, following a complaint submitted by the European Steel Association (EUROFER).
The duties range from 19.7% to 22.1% for Chinese and from 18.7% to 36.1% for Russian companies.
Russian steel companies plan to appeal the decision in European courts.
"We will continue to protect our interests by all legal means. In particular, we plan to appeal the imposed duties in the EU Court of Justice and within WTO", Novolipetsk Steel Plant representative told the Russian media outlet RBC.