"China will impose tariffs of up to 19.8% on pork imports from the European Union, a drastic drop from preliminary tariffs of up to 62.4%, its Commerce Ministry said Tuesday. The ministry's announcement followed an investigation the Chinese side launched into imports of pork from the trading bloc after the EU imposed provisional tariffs on China-made electric vehicles. Beijing also levied anti-dumping duties on European brandy, most notably cognac produced in France, though major brandy producers received exemptions."
"In September, China ordered preliminary anti-dumping duties, in the form of security deposits, of 15.6% to 32.7% for pork imports from EU companies that collaborated with the anti-dumping investigation, and up to 62.4% for all others. China's Commerce Ministry concluded that the EU was dumping pork and pig by-products in China, selling them at prices below production costs or domestic market prices, and harming China's pork industry."
China will impose final anti-dumping tariffs ranging from 4.9% to 19.8% on pork imports from the European Union, effective Wednesday and lasting five years. The decision follows a probe initiated after the EU imposed provisional tariffs on China-made electric vehicles and includes earlier preliminary security-deposit duties of 15.6%-32.7% for cooperating EU firms and up to 62.4% for others. The Commerce Ministry found that EU pork and pig by-products were sold below production or domestic market prices and harmed China’s pork industry. Spain, the Netherlands and Denmark are the most affected. The tariffs apply to all pork product types.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]