China has criticized the European Union's (EU) new anti-dumping tariff imposed on steel from Chia as "unjustifiable" and "unfair," Reuters reported.

The EU announced said on Friday it is imposing anti-dumping tariffs on select Chinese steel bars at rates higher than initially proposed. According to the Wall Street Journal, the tariffs range from 18.4 percent to 22.5 percent and will be leveled on 'rebar steels,' reinforcing steel used as rods in concrete.       

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The high tariff is a result of an investigation initiated in 2015 following complaints from European steelmaking association Eurofer. Eurofer said on Friday that it welcomes the decision  

However, the EU's decision immediately drew flak from the Chinese Ministry of Commerce. "In its essence, this action is an artificial obstacle, an exclusion of Chinese products, and unfair protectionism for EU industry," China's commerce ministry said in a statement.

China's Cheap Steel Import Bane for European Manufacturers    

Over the years, China's Cheap Steel Import has wrecked havoc on European steel manufacturers as they have been unable to compete with unduly cheap Chinese steel import. As a result, several prominent steel plants in Europe have been closed down, leaving thousands of workers unemployed.

Even US steel industry has been not left untouched by the onslaught of Chinese steel. Earlier this year, US Steel Corp filed a complaint with regulators, calling for a complete ban on import of Chinese steels.

Both and US and EU have accused the Chinese government of offering undue subsidies to local steel manufacturers and encouraging steel overcapacity. Beijing has, however, dismissed these accusations and claims that it is working to cut down steel overcapacity.

TagsChinese Steel, European Union, EU’s Anti Dumping Duties, Chinese Steel Overcapacity