EU cautions China on trade penalties

摘要

Concerned over impact of Chinese steel on their producing companies, the European Union (EU) has cautioned China of possible trade penalties unless it is able to curb steel capacity expansion and prune exports. According to diplomats, such trade penalties were not to be construed as protectionist measures, but as an address to mutual interest that is being jeopardised by overcapacity, much of it coming from China.