China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan.
The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports.
POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said.
Photo: Reuters
In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary anti-dumping measures in the form of a deposit starting from Jan. 24.
The highest anti-dumping rates of 74.9 percent were levied on imports from the US, while European shipments would face 34.5 percent duties, the announcement said.
China slapped 35.5 percent duties on Japanese imports, except for Asahi Kasei Corp, which received a company-specific rate of 24.5 percent.
General duties of 32.6 percent were placed on imports from Taiwan, while Formosa Plastics Corp (台塑) received a 4 percent tariff and Polyplastics Taiwan Co (台灣寶理) 3.8 percent.
Hopes have risen that the US-China trade war is easing after the two sides said on Monday last week that they had agreed to slash reciprocal tariffs in a 90-day truce, a deal that state mouthpiece the Global Times on Friday said should be extended.
The APEC group of nations warned of “fundamental challenges” facing the global trading system in a communique on Friday after a meeting in South Korea.
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