China will apply new tariffs to EU products

On Tuesday, the Asian authorities announced that they will impose new taxes on imports of some stainless steel products.

China will impose tariffs on Tuesday on imports of some stainless steel products from the European Union (EU), as well as Japan, South Korea and Indonesia considering that they carried out dumping practices when selling below the cost, causing “substantial damage” to the local industry, as announced by the Ministry of Commerce of the Asian giant.

Thus, from July 23, 2019, Beijing will set “anti-dumping” tariffs on imports of stainless steel in billet, as well as on stainless steel rolled products manufactured in these four countries.

According to the Chinese Ministry, the fixed rates will range between 18.1% to 103.1% during an initial period of five years.

Chinese trade authorities opened an anti-dumping investigation into imports of stainless steel in billet and rolled steel in July 2018 at the request of Chinese producers, after which it announced its preliminary decision to set these tariffs last March, on which you have taken this final decision.

K. Tovar

Source: Xinhuatnet

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