EU to single out Chinese imports in report on market distortions

9 October 2017
200 Views

China will be singled out for special attention under new trade rules to limit excessively cheap imports into the European Union, a European Commission official said.

The Commission, member states and EU lawmakers agreed on Tuesday to treat all World Trade Organization members the same in determining whether they are dumping products.

Under normal circumstances, dumping will mean selling below domestic prices, but the EU will make exceptions for cases of “significant market distortions”, allowing investigators to compare export prices with international benchmarks.

The Commission has said it would produce reports on major countries where it suspects such distortions prevail. For the time being, however, it will produce only one.

“China will come out first,” said a Commission official who requested not to be named.

“There is no clear plan to do other reports than for China.

“It is resource-intensive,” the official continued, adding that the absence of a report on a given country did not mean EU producers could not point to distortions there.

The official did not rule out reports on other countries in the future.

EU officials have regularly said that, despite the changes for anti-dumping cases, China is not a market economy.

Of 32 trade investigations the Commission is carrying out, 22 feature Chinese imports.

The European Union and many of China’s other trading partners have debated whether to treat China as a “market economy”, which Beijing says was its right at the end of 2016, some 15 years after it joined the WTO.

The EU kicked off discussions early in 2016 and held public consultations, gathering over 5,000 opinions on how to handle trade complaints against China.

The Commission concluded it could not retain the current practice of considering China as a “non-market economy” and comparing Chinese export prices with those from another country, such as the United States.

But critics have said that Chinese businesses are subject to excessive state intervention with artificially low domestic prices, threatening to expose European markets to more dumping.

EU steelmakers association Eurofer, which has brought a series of trade complaints against Chinese imports, said the new EU agreement was important, but that it wanted to see how it worked in practice.

Source: euractiv.com

You may be interested

Hiker Dies in Accident on Mount Olympus, Second is Rescued
GREECE
shares234 views
GREECE
shares234 views

Hiker Dies in Accident on Mount Olympus, Second is Rescued

Panos - Dec 11, 2017

One of two hikers that became trapped on Mount Olympus has died while the second was successfully rescued in an…

Fourth review of Greek bailout to include all the thorny issues left for last
FINANCE
shares162 views
FINANCE
shares162 views

Fourth review of Greek bailout to include all the thorny issues left for last

Panos - Dec 11, 2017

With the third review of the ongoing Greek bailout more-or-less achieved effortlessly and on time, attention will soon turn to…

PM Tsipras: Only with respect to the international law we can live peacefully
GREECE
shares930 views
GREECE
shares930 views

PM Tsipras: Only with respect to the international law we can live peacefully

Panos - Dec 11, 2017

Only through cooperation, solidarity and respect to the international law and the international treaties as the Lausanne Treaty, we can…

Leave a Comment

Your email address will not be published.