As China eyes trade growth, Europe moves to calm wary industries

Brussels

AS THE European Union forges closer ties with China, the bloc is also moving to calm concern that Chinese exporters will destroy EU-based industries ranging from steel to solar.

The EU will retain the scope to impose hefty levies against Chinese businesses that sell goods below cost in Europe under a planned tariff overhaul, according to Salvatore Cicu, an Italian Member of the European Parliament (MEP). Europe is revamping the way that it calculates duties on these "dumped" imports in response to longstanding Chinese demands for more favourable trade treatment.

"We want to give a political message - especially to China - that we are open for trade, but EU industries mustn't be penalised," Mr Cicu, who is steering a draft law on the controversial issue through the 28-nation …