China puts anti-dumping tariff of up to 18.9% on imports of pork from the EU
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FILE - Shoppers past near imported pork products from Spain at a supermarket in Beijing, Tuesday, June 18, 2024. Photo by Ng Han Guan /APArticle contentChina will impose tariffs of up to 19.8% on pork imports from the European Union, a drastic drop from preliminary tariffs of up to 62.4%, its Commerce Ministry said Tuesday.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe ministry’s announcement followed an investigation the Chinese side launched into imports of pork from the trading bloc after the EU imposed provisional tariffs on China-made electric vehicles.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentBeijing also levied anti-dumping duties on European brandy, most notably cognac produced in France, though major brandy producers received exemptions. Imports of dairy products from the EU likewise were subject to anti-dumping probes.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe EU runs a massive trade deficit with China: over 300 billion euros ($348 billion) last year. However, the trading bloc is a major exporter of pork and key supplier of byproducts such as ears, snouts, feet and other items considered to be delicacies in China.Article contentIn September, China ordered preliminary anti-dumping duties, in the form of security deposits, of 15.6% to 32.7% for pork imports from EU companies that collaborated with the anti-dumping investigation, and up to 62.4% for all others.Article contentChina’s Commerce Ministry concluded that the EU was dumping pork and pig by-products in China, selling them at prices below production costs or domestic market prices, and harming China’s pork industry. The final tariff rates of 4.9%-19.8% are due to take effect beginning Wednesday and last for five years.Article contentSpain, the Netherlands and Denmark will be the most affected.Article contentThe Commerce Ministry said the new tariff will apply to all kind of pork products, fresh, chilled, frozen, dried, pickled, smoked or salted.Article contentIt said it had reached its conclusions in an “objective, fair and impartial manner.”Article contentEU exports of pork products to China peaked at 7.4 billion euros ($7.9 billion) in 2020 when Beijing turned to imports to meet domestic demand after its pig farms were devastated by a swine disease. But it has reduced imports as it has rebuilt its herds.Article contentTrending The Federal Reserve’s rate cut was a clear signal to investors Investor McKinsey plots thousands of layoffs in consulting slowdown Work Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.
The Federal Reserve’s rate cut was a clear signal to investors Investor McKinsey plots thousands of layoffs in consulting slowdown Work Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Bank of Canada expected to hold interest rate steady through 2026 as inflation cools Economy Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance