china imposes hefty anti-dumping duties on US imports
Anti-dumping duties of up to 74.9% on the importation of polyoxymethylene (POM), a plastic used in automotive components and household appliances, have come into effect, the Ministry of Commerce announced. These duties follow an investigation into alleged dumping practices.
The price dumping investigation was initiated by Beijing in May 2024, shortly after the United States sharply increased tariffs on electric vehicles and chips from China.
In a statement released on Sunday, the Ministry of Commerce argued that the investigation revealed significant harm to Chinese industry caused by dumping from the USA, the EU, Japan, and Taiwan.
The USA bears the greatest burden
The highest rate of 74.9% applies to imports from the United States. Deliveries from the EU have been subjected to a 34.5% duty. Products from Japanese companies will be subject to a 35.5% tariff (with the exception of Asahi Kasei Corp., which is subject to a 24.5% rate). For Taiwan, the general rate will be 32.6%, with two companies subjected to individual tariffs of 4% and 3.8%.
The government-run "Global Times" asserts that these measures are permitted by the World Trade Organization (WTO).
Reuters points out that following an agreement between authorities in Washington and Beijing to reduce mutual tariffs within the framework of a 90-day truce, there is hope for easing the trade war between the world's two largest economies.
