UK steelmakers have cheered a European parliament resolution opposing plans that they believe would kill off the industry by permanently opening the floodgates to cheap Chinese steel. MEPs passed a resolution saying China should not be granted market economy status by Brussels, which could make it harder for officials to impose punitive tariffs on Chinese steel. Brussels is due to make a ruling this year. But Conservative MEPs came under fire for failing to back the motion, while European steelmakers called on the UK to get behind efforts to strengthen the trade defences available to EU economies. While the resolution carries no legal weight, steel trade bodies welcomed a move that they said sent a message to politicians that the European steel industry needs protection from China. Gareth Stace, the director of UK Steel, “Despite the rhetoric, China shows no sign of stemming the tidal wave of steel exports which it is dumping on the global market. “If this status for China is granted, we will see the decimation of steel in Europe with the loss of hundreds of thousands of jobs. “The UK government must listen to the message being sent by the European parliament and stand strong with… Read full this story
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