EU sets provisional tariffs on Chinese aluminum products – Reuters

The European Commission imposes provisional tariffs on aluminum flat-rolled products from China, Reuters reports, citing the European Union’s (EU) official journal on Monday.

This comes after an initial investigation found the Chinese products were being sold into the bloc at artificially low prices.

Additional details

“The European Commission has set duties of between 19.3% and 46.7%.”

“The anti-dumping duties, to come into force on Tuesday, will apply while the investigation continues. It is due to conclude in October, when tariffs may be set for five years.”

“The investigation was launched after a complaint from trade association European Aluminium, whose members include Norsk Hydro and Elvalhalcor.”

Market reaction

The trade headlines add to the persisting risk-off mood in the market, as growing coronavirus concerns continue to haunt, weighing on the perceived riskier assets such as the euro.