CHINA, EU IN TRADE BATTLE OVER WINE AND STEEL PIPES

BEIJING - China has opened an investigation into dumping allegations for wine and steep pipe imports from the European Union, reacting to EU enforcement of anti-dumping taxes of 11.8%, which will be in effect from now until August, after which they will be extended to 47.6% for another four months. The EU also plans to file a complaint with the WTO over China's tariffs on European steel tube exports, with the complaint aiming to overturn the tariffs on the tubes used in power plants, claiming that the Chinese duties are retaliatory and not based on evidence.