France Seeks EU Anti-Dumping Measures Against Chinese Steel

French Economy Minister Emmanuel Macron said that the European Union needs to impose anti-dumping measures against Chinese steel as soon as possible or risk losing thousands of jobs.

“We’re in a steel crisis because of the dumping of Chinese overcapacity,” Macron said today in Brussels. “We need to act quickly,” he said, adding that waiting nine months normal procedures would take is too long.

The steel industry employes about 300,000 directly in Europe, according to French government estimates.

“Factories will close, thousands of jobs will be lost if we don’t act,” Macron added.

Before it's here, it's on the Bloomberg Terminal.