The European Union (EU) will apply tariffs of up to 99.7% on glass fiber producers in China and Egypt for selling at unfairly low prices, state-run Ahram Online reports.

The EU will impose the 20%-99.7% tariffs for the next five years, with the highest rate applying to Jushi Group Co. and Zhejiang Hengshi Fiberglass Fabrics Co. Ltd in China and the lower to their operations in Egypt, the EU official journal said on Monday.

This came after the European Commission had conducted an investigation, and found the market share of the producers in China and Egypt rose to 31% in 2018 from 23% in 2015, while their average sales price fell by 14%.