What specific actions does Jim Ratcliffe urge the EU to take to protect the European chemicals industry from Chinese dumping?

Jim Ratcliffe urges the EU to urgently implement the Safeguard and/or Industrial Accelerator Act for the chemicals sector, accelerate support beyond 'snail’s pace', and ensure the €30 billion ETS Investment Booster scheme is structured to fund strategic industrial projects like Ineos’ Project One steam cracker in Antwerp — all to counteract Chinese overcapacity-driven dumping of petrochemicals such as ethylene, propylene, acetone, and phenol.

According to Ratcliffe, what are the three main consequences of Chinese petrochemical dumping on Europe’s chemical industry?

Ratcliffe states that Chinese dumping is causing an 'accelerating rate of closure' of European chemical plants (nearly 200 closed in five years), will lead to sharply rising consumer prices once European capacity shuts down, and results in higher carbon emissions since 'chemicals made in China have double the carbon footprint' compared to those produced in Europe.

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Jul 6, 2026

Ineos Chairman Jim Ratcliffe urged the EU to implement safeguards against Chinese petrochemical dumping, citing overcapacity and unsustainable prices driving European plant closures. He called for immediate regulatory action and support for strategic projects like Antwerp's cracker complex.

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