The European Union imposed tariffs against China to counter subsidies for the second time, targeting Chinese steel in a bid to help EU producers such as ArcelorMittal. (MT)
The EU duties as high as 44.7 percent punish Chinese exporters of organic coated steel, used in construction and domestic appliances, for receiving trade-distorting government aid. Wuhan Iron & Steel Co. (600005) and Angang Steel Co. (000898) are among the companies facing the new five-year import levies.
Most of the EU’s punitive tariffs are aimed at Chinese exporters for selling goods in Europe below cost, a practice known as dumping. The EU today also turned provisional anti- dumping duties on Chinese organic coated steel into five-year measures while lowering the rates, in some cases to zero.

Source - http://www.bloomberg.com