The Brazilian government has imposed tentative anti-dumping tariffs on butyl methacrylate imports from Taiwan for six months, as it found that the chemicals were being sold at unfairly low prices, the Ministry of Economic Affairs said on Saturday.
Brazil launched an investigation in December last year after BASF SA filed a petition in October last year that accused exporters from Taiwan, Germany and South Africa of dumping butyl methacrylate on the Brazilian market.
Based on the initial findings of the investigation, Brazil imposed the tentative tariffs on butyl methacrylate imports from the three countries as a temporary measure.
Butyl methacrylate is a material used in the production of resins, solvents, coatings, adhesives, oil additives, dental products, textile emulsions, leather and paper finishing.
Taiwan’s Formosa Plastics Corp (台塑) has been asked to pay average duties of US$140.08 per tonne of butyl methacrylate exported to Brazil, while German and South African exporters have been slapped with tariffs of US$526.81 and US$585.37 per tonne respectively, according to the ministry.
The Brazilian government is to continue its investigation into the dumping case and is scheduled to issue a final ruling on Aug. 24.
The ministry said it plans to maintain close contact with the Taiwan Synthetic Resin and Adhesives Industrial Association (台灣合成樹脂接著劑公會), the Petrochemical Industry Association of Taiwan (台灣石油化學公會) and the Chinese National Federation of Industries (全國工業總會) to offer any necessary assistance to the affected exporters.
Taiwan exported US$13.82 million of butyl methacrylate to Brazil in 2012, US$12.22 million in 2013 and US$15.46 million last year, which accounted for 0.69 percent to 0.93 percent of its total exports to the South American country, according to Ministry of Finance data.
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
India’s ban of online money-based games could drive addicts to unregulated apps and offshore platforms that pose new financial and social risks, fantasy-sports gaming experts say. Indian Prime Minister Narendra Modi’s government banned real-money online games late last month, citing financial losses and addiction, leading to a shutdown of many apps offering paid fantasy cricket, rummy and poker games. “Many will move to offshore platforms, because of the addictive nature — they will find alternate means to get that dopamine hit,” said Viren Hemrajani, a Mumbai-based fantasy cricket analyst. “It [also] leads to fraud and scams, because everything is now
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
RSS