Ineos blasts ‘industrial self harm’ as firm battles Brussels over dumping
Ineos has accused Brussels of “industrial self harm” as the company fights back against what it described as “dumping” of imports to Europe from Asia.
The chemicals company, controlled by billionaire Sir Jim Ratcliffe, today confirmed that it has filed or is in the process of filing ten major anti-dumping cases with the European Commission, a move it said was necessary to defend its sites, workers, and long-term investments, and to safeguard thousands of customers, suppliers and contractors.
Ineos warned of a “tidal wave” of low-cost imports from Asia, the Middle East and the United States, which it said was “undercutting European producers” who face “the world’s highest energy prices and escalating, unilateral carbon costs.”
Steve Harrington, CEO of INEOS Styrolution, said: “This is industrial self-harm!
“While the US and China protect their industries, Europe allows unfair ABS imports from South Korea and Taiwan. That puts six ABS plants and 1,000 European jobs at risk.
“The Commission’s own data shows injury levels up to 67 per cent, yet Brussels proposes anti-dumping duties as low as 3.7 per cent, which is completely ineffective.
“Unless Europe acts decisively, we are finished.”
Call to strengthen ‘trade defences’
According to the European Chemical Trade association (CEFIC), imports of chemicals from China surged by 8.3 per cent in the first half of 2025, flooding Europe with carbon-intensive products that pay a fraction of our energy costs and no carbon price at all. The latest EU-US trade deal is expected to make the trade imbalance worse.
Ineos has called on the European Commission to strengthen its trade defences and provide the resources necessary, before year-end and “act decisively to stop the deindustrialisation of Europe.”
“Europe talks about autonomy, resilience and the Green Deal,” said Tom Crotty, INEOS Group Director.
“But when faced with blatant product dumping, it shows weakness. Sites are closing, carbon-heavy imports are surging, and politicians are still asleep at the wheel.
“Unless Europe wakes up fast, it won’t just lose its chemical industry it will lose the foundation of its entire manufacturing sector.”