China eu agree steel working group amid dumping concerns

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China and EU Agree to Establish Steel Working Group Amid Concerns Over Dumping

China and the European Union have agreed to establish a steel working group to address concerns over steel dumping and overcapacity in the global market. The move comes as the EU has been pressing China to address its steel overcapacity and dumping practices, which have been causing harm to European steel producers.

The working group, which will be established in the coming weeks, will focus on issues such as market access, trade practices, and environmental and social standards in the steel sector. The group will also aim to promote cooperation and dialogue between Chinese and European steel producers, as well as between the two governments.

The agreement was reached during a meeting between Chinese Vice Premier Wang Yang and EU Trade Commissioner Cecilia Malmström in Beijing. Wang Yang said that China is willing to work with the EU to address the concerns over steel dumping and overcapacity, and to promote a more balanced and sustainable development of the global steel industry.

Malmström welcomed the agreement, saying that it is an important step towards addressing the concerns over steel dumping and overcapacity. She also emphasized the need for China to take concrete actions to address these issues, including reducing its steel production capacity and implementing effective measures to prevent dumping.

The establishment of the steel working group is seen as a positive development, as it provides a platform for China and the EU to engage in constructive dialogue and cooperation on steel trade issues. However, the EU has made it clear that it will continue to monitor China's actions and will take further action if necessary to protect the interests of European steel producers.

Overall, the agreement is seen as a step towards addressing the concerns over steel dumping and overcapacity, and promoting a more balanced and sustainable development of the global steel industry.