cross-posted from: https://lemmy.sdf.org/post/43941148
Companies across Europe and the United Kingdom are complaining that there has been a “flood” of Chinese products into the market, as the country seeks to redirect goods meant for the United States, according to a Nikkei report.
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UK-based chemical giant Ineos [announced] this week, which said it is lowering production and cutting jobs due to the demand slowdown. The company said it is cutting 20 per cent of the workforce at its Acetyls plant in Hull, England, and is closing two production units in Rheinberg, Germany.
The announcement from Ineos blamed “dirt-cheap carbon-heavy” Chinese products that have been redirected from the US due to high tariffs but face no trade barriers in the EU or UK. Stephen Dossett, CEO of Ineos Inovyn in the statement added, “Europe is committing industrial suicide. While competitors in the US and China benefit from cheap energy, European producers are being priced out by our own policies and absence of tariff protection.”
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German Chemical Industry Association (VCI) said it could not confirm a widespread increase in Chinese chemical imports after Trump’s tariffs came in May, but noted increased price competitiveness as China’s products continue despite domestic demand slowdown.
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For the steel sector, over supply from China has caused disruption, with the UK and EU considering 50 per cent tariffs on excess products. If the plan is approved by the European Parliament and the European Council, the measures will take effect mid-2026.
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EU textile body Euratex said Chinese exports have surged by 20 per cent in H1 2025 YoY. both in value and volume in the first half of 2025, compared with last year, according to the Financial Times.
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if your people were not buying them, they would not be selling them…
that sounds like a culture problem…the capitalist culture.
I just wanna say, as a kid who grew up in the 80’s and 90’s when everything that wasn’t nailed down was moving to China, we saw this day coming.
I told you so.
China played the world like a fiddle.
Remember in Firefly where everyone spoke Chinese as a second language?
Well, that’s been Chinese industrial policy for decades. The main issue right now is that there isn’t enough demand for the total international manufacturing capacity and China’s over investment is causing major economic and political issues for other developed countries.
Not to mention their own country. What little news sneaks out is always bad for the people.
Just because Americans are stupid and shot themselves in the face by electing Trump isn’t a reason to also impose unilateral tariffs (versus reciprocal tariffs). While measures should be taken to discourage China from funding the Russian invasion of Ukraine via their opportunistic purchase of cheap Russian energy, other competitive advantages of the Chinese economy, such as comparatively low labor costs, are a sign that Europe should play to its own competitive advantages rather than adopting protectionist measures.
Probably. But tariffs are also valid in one market or another, if you make them while thinking. They are way to manipulate the comparative advantages.
(And no, international trade is not a competition. It’s not “competitive advantages” that you are looking for. It’s much more complicated and much less threatening than that.)
You’re in a very similar boat. Starmer, AfD, Orban, that idiot from Italy who’s name isn’t worth looking up. Fascism is on the rise and ruins trade every time.
They are not yet in a similar boat.
True, a boat caught in the SS USA’s wake would be a better metaphor.
Gotta have something for those Uighur slaves to make all day
