financetom
Business
financetom
/
Business
/
Factbox-China's potential probes on EU products following EV tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Factbox-China's potential probes on EU products following EV tariffs
Jun 18, 2024 1:06 AM

BEIJING (Reuters) -China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.

Below are details on the probe into EU pork imports and other industries that may be subjected to similar investigations.

PORK

The investigation announced by China's commerce ministry on Monday will focus on pork intended for human consumption, such as fresh, cold and frozen whole cuts, as well as pig intestines, bladders and stomachs. The probe will begin on June 17.

It was prompted by a complaint submitted by the China Animal Husbandry Association on June 6 on behalf of the domestic pork industry, the ministry said.

Pork suppliers from South America, the U.S. and Russia could be among those gaining market share if Beijing restricts imports from the European Union.

The EU accounts for more than half the roughly $6 billion worth of pork China imported in 2023, according to customs data, around a quarter of which was from Spain alone.

Second- and third-ranking, the Netherlands and Denmark last year exported to China pork products worth $620 million and $550 million respectively.

DAIRY

Chinese firms plan to ask authorities to open an anti-subsidy investigation into imports of some dairy products from the EU, the 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, U.S., 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 >
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved