China to impose anti-dumping duties on European chemical
Move predicted to fuel tension between trade partners
China will impose from Friday anti-dumping duties of up to 37 per cent on a chemical imported from the European Union, the Commerce Ministry said, the latest move in a string of disputes that could fuel rising tension between the trade partners.
Trade ties between China and the European Union have been strained by the imposition of a series of anti-dumping tariffs, particularly after the EU launched punitive duties on Chinese exports of solar panels.
Thursday’s decision sets duties ranging from 19.6 per cent to 36.9 per cent on European exports of toluidine, a chemical used to produce dye, medicine and pesticides, among other uses.
The duty will take effect from June 28 and run for five years, the commerce ministry said on its website.
A tax of 19.6 per cent will be imposed on exports of the chemical by Lanxess Deutschland, while the other affected firms will have to pay 36.9 per cent, it added.
The announcement concluded an investigation into the product started in June last year.
China may look into a complaint about luxury cars imported from the EU, fanning worries that trade friction that started over solar panels may spread to some of the goods most popular with wealthy Chinese.