cross-posted from: https://lemmy.sdf.org/post/43941148

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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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