Economists urge go-slow on EU anti-dumping steps

Leading European economists have urged the European Union not to go overboard on protectionist measures against China's competitive steel exports, warning that escalated anti-dumping moves may lead to retaliation from Beijing and damage the bilateral relationship.

They said both sides have already set an excellent example in solving similar disputes over solar panels and consultation has brought the relationship back on track; the method should be used to find solutions over excess steel capacity, which they say is a "global phenomena".

Europe's steelmakers are facing closure of factories or a drastic reduction in jobs, with trade unions blaming China for dumping cheaper steel products on the open market.