EU Anti-Dumping Decision On High Strength Yarn Exported To China

According to this decision, the EU will impose a maximum anti-dumping duty of about 14% on China's high strength yarn for a period of 5 years.

High strength yarn is used to manufacture conveyor belts, automobile tyres and safety belts.

An EU official revealed that the representatives of the EU member states were divided on whether to levy taxes. However, in accordance with the EU anti-dumping rules, waivers were deemed to be in favor of those who supported the taxation.

The European Union anti-dumping committee also decided on the same day to continue to levy a formal anti-dumping duty on PET plastic imported from China for a period of 5 years.

The EU decided in August 2004 to impose a formal anti-dumping duty on China's PET plastics, which was due to expire next month.

PET plastics are mainly used in the production of beverage bottles.

The European Union's anti-dumping committee also decided to impose a temporary anti-dumping duty on melamine imported from China, with a tax rate exceeding 50%.

The outcome of the European Union's anti-dumping committee is not the final decision of the European Union. However, because the committee is composed of representatives of the member states of the European Union, its voting results basically reflect the views of the European Union Member States and are usually adopted by the EU Council of ministers with the final decision.

Once the anti-dumping measures are officially promulgated in the official EU publications, they will become effective immediately.

In recent years, the EU has frequently used anti-dumping measures and other trade protection measures against Chinese products, and the trend of protectionism has risen.

At the eighth ASEM summit held in Brussels last week, leaders of Asia and Europe agreed that trade protectionism should be opposed.