China reacts with anti-subsidy measures against the EU

China's Ministry of Commerce announced its strong opposition to the European Union's plan to initiate an anti-subsidy investigation against Chinese iron and steel companies. According to information obtained, the EU may announce the initiation of an anti-subsidy investigation against China's iron and steel companies at a summit it plans to hold with the United States later this month.

The spokesperson for the Chinese Ministry of Commerce addressed the issue at a press conference held today in Beijing. In the statement, it was highlighted that the EU has long applied various trade restriction measures to iron and steel imports, with many countries implementing more than 60 anti-dumping and anti-subsidy measures against iron and steel products. These measures have drawn intense reactions from the international community.

The spokesperson emphasized that the iron and steel market in the EU is currently one of the most heavily protected and highest-priced markets in terms of global trade protectionism. They expressed strong opposition to unilateralism and protectionist attempts that abuse trade aid measures, stating that they will closely monitor the EU's subsequent actions.