Is David Cameron sacrificing British steel to keep China happy?
Prime Minister David Cameron has been accused of jeopardizing Europe’s steel industry as a ‘thank you’ to China for investing in the controversial nuclear power plant at Hinkley Point.
China itself faces allegations of ‘dumping’ its steel on the European market, by selling it at unrealistically low prices.
For the past three years Britain has been using its veto to block efforts by the EU to adopt anti-dumping policies.
“The British are sacrificing an entire European industry to say thank you to China for signing up to the nuclear power project at Hinkley Point, and pretending it is about free trade,” said one EU official in Brussels.
The US has actually adopted a more protectionist stance in the face of Chinese competition, slapping harsh penalties on imported steel in a bid to safeguard its steel industry.
Over 100,000 people have signed a petition calling on Cameron to save the UK steel industry from collapse after Indian owner Tata said it would sell its British plants, putting tens of thousands of jobs at risk.