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Friday, April 01, 2016

Britain sacrifices Entire EU steel industry to curry favour with China

http://www.telegraph.co.uk/business/2016/03/30/britain-sacrifices-steel-industry-to-curry-favour-with-china/

Britain is not alone. Most of Europe's steel foundries are heading for annihilation under the current EU trade regime, with unthinkable consequences through the network of European and British supply chains... the British government has for the last three years been blocking efforts by the EU to equip itself with the sort of anti-dumping weaponry used by Washington to confront China.
...
"The British are sacrificing an entire European industry to say thank you to China for signing up to the nuclear power project at Hinkley Point, and pretending it is about free trade," said one official in Brussels bitterly.
What they are blocking is a change to an EU regulation intended to beef up Europe's 'trade defence instruments' (TDI), enabling it to respond much more quickly to Chinese dumping and too impose much tougher penalties.

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