China on Sunday imposed anti-dumping duties as excessive as 74.9% on imports of POM copolymers, a kind of engineering plastic, masking shipments from the United States, the European Union, Japan and Taiwan.
The Commerce Ministry’s findings conclude a probe launched in May 2024, shortly after the U.S. sharply elevated tariffs on Chinese electrical autos, pc chips and different imports.
POM copolymers can partially substitute metals similar to copper and zinc and have numerous purposes, together with in auto elements, electronics and medical tools, the ministry has stated.
In January, the ministry stated preliminary investigations had decided that dumping was happening, and carried out preliminary anti-dumping measures within the type of a deposit ranging from Jan. 24.
According to Sunday’s announcement, the best anti-dumping charges of 74.9% have been levied on imports from the U.S., whereas European shipments will face 34.5% duties.
China slapped 35.5% duties on Japanese imports, apart from Asahi Kasei Corp, which obtained a company-specific fee of 24.5%.
General duties of 32.6% have been positioned on imports from Taiwan, whereas Formosa Plastics obtained a 4% tariff and Polyplastics Taiwan 3.8%.
Hopes have risen that the U.S.-China commerce struggle is easing after the 2 sides stated on Monday that they had agreed to slash reciprocal tariffs in a 90-day truce, a deal that state mouthpiece the Global Times stated on Friday must be prolonged.
The Asia-Pacific Economic Cooperation (APEC) group of countries warned of “fundamental challenges” going through the worldwide buying and selling system in a communique on Friday after a gathering in South Korea.
Source: www.dailysabah.com