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China and EU agree steel working group amid dumping concerns

EU leaders have agreed with China to form a working group to discuss Beijing's overproduction of steel which is linked to whether they will grant market economy status to China.

European Commission president Jean-Claude Juncker said that there is a clear link between steel overcapacity in China and the prized market economy status.

He said that he had agreed with Chinese premier Li Keqiang to establish "a kind of steel platform between China and the European Union to keep alive the debates and the discussions we have related to the steel overproduction".

Mr Juncker was in Beijing to attend a two-day summit that ended on Wednesday.

European steelmakers accuse China of dumping steel on the world market. Market status would mean more Chinese imports.



From Belfast Telegraph