[ad_1]
China yesterday argued that an “anti-dumping” investigation into dairy imports from the European Union was launched “at the request of China’s national industry” in response to the European Commission’s “hasty move” against Chinese electric vehicles.
He Yadong, a spokesman for the Ministry of Commerce, said that according to Chinese law and World Trade Organization rules, domestic industries have the right to make requests for trade measures to safeguard market competition and their own legitimate rights and interests at a press conference.
He Yadong, spokesman for the Ministry of Commerce, said, “After receiving the application, prior consultations will be initiated in accordance with legal procedures” and “the evidence provided by the applicant will be analyzed.”
“The Chinese employers’ demands meet the conditions for filing an ‘anti-dumping’ investigation (sales below the cost of production), which is why the investigation is being conducted,” he added.
The spokesman said the investigation was “open and transparent” and aimed to “protect the rights of all stakeholders”.
China announced an investigation into European dairy products a day after the European Commission tweaked proposed punitive tariffs on electric car imports from China.
China’s investigation will focus on products imported between April 2023 and March 2024 and the “damage” caused to Chinese industry by those purchases between 2020 and 2024.
The process will look at dairy products such as fresh cheese, cottage cheese and cream, and the impact of dairy subsidy schemes in Ireland, Austria, Belgium, Italy, Croatia, Finland, Romania and the Czech Republic.
At the request of Chinese employers, the products under investigation received subsidies from the EU and its member governments, with some EU dairy companies benefiting from a total of 20 subsidies.
Economic Boxing
In May, Chinese state media predicted possible retaliation against European tariffs, including an anti-dumping investigation into pork from Europe (which has now become a reality) and one targeting dairy products.
In July, Brussels proposed punitive taxes on Chinese electric vehicles, considering that the penetration of Chinese electric vehicles into the European market was harming the interests of EU producers after a months-long investigation.
Last Tuesday, the European Commission adjusted its proposed tax on Chinese electric vehicles imported into the EU to 36.3% from the top rate of 37.6% proposed in July.
To combat these unfair business practices, in addition to the usual 10% tariff on Chinese electric vehicles, taxes of up to 36.3% will be imposed on China’s SAIC Motor Corporation and all companies not included in the investigation that do not cooperate with the EU.
BYD and Geely will be subject to tariffs of 17% and 19.3% respectively. These values are slightly lower than those proposed in July, after the calculations were revised during the consultation phase with the companies.
Chinese manufacturers that cooperate with the investigation but are not included will be subject to an additional tax of 21.3%, slightly higher than the 20.8% recommended in the first tax rate proposal.
[ad_2]
Source link
