financetom
Business
financetom
/
Business
/
China's potential probes on EU firms following EV tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China's potential probes on EU firms following EV tariffs
Jun 14, 2024 4:04 AM

BEIJING (Reuters) - Chinese firms have asked the government to launch an anti-dumping investigation into pork imports from the European Union, as well as an anti-subsidy investigation into EU dairy, according to state media.

The move, seen as retaliation for new EU tariffs of up to 38.1% on imported Chinese elective vehicles from July, may risk escalating trade tensions.

Below are industries that may be probed by China.

PORK

Chinese firms have formally applied to the government for an anti-dumping probe into pork imports from the EU, the state-backed media Global Times said on June 13.

It is unclear which pork products would be targeted, but an analyst said a large portion of China's imports of EU pork, valued at more than $3 billion last year, are offal.

DAIRY

Chinese firms plan to ask authorities to open an anti-subsidy investigation into imports of some dairy products from the EU, Global Times said on June 8.

It remains unclear which products China could target. Whey powder, cream and fresh milk were the top items in the EU's 1.7 billion euros ($1.8 billion) worth of dairy exports to China last year, according to data from the European Commission's Directorate-General for Agriculture and Rural Development, which cited Eurostat.

CARS

China should hike its import tariffs on large gasoline-powered cars to 25%, a government-affiliated auto research body expert told the Global Times in May. China's current import tariff for cars is 15%.

A higher duty for cars with larger engines would hit principally German carmakers that export SUVs and sedans to China.

BRANDY

Beijing in January opened an anti-dumping investigation on brandy imported from the EU, a step that appears to be mainly targeted at France. Almost all European brandy exported to China is made in France.

The investigation will focus on brandy in containers of less than 200 litres (44 British gallons).

PLASTIC

In May, Beijing launched an anti-dumping probe into POM copolymers, a type of engineering plastic, imported from the EU, United States, Japan and Taiwan.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved