China announced on Monday that it would impose anti-dumping duties of up to 75 % on imports of cheap from Taiwan, Japan, the United States, and the European Union. The government’s business government launched an investigation into alleged dumping methods involving polyformaldehyde copolymer, a widely used plastic in the automotive, health, and home product sectors. The commerce ministry said in a statement released on Sunday that the new tariffs, which ranged from 3.8 percent to 74.9 %, took effect on Monday. According to the government, the dumping of polyformaldehyde copolymer is seriously harming the local market. The highest tax of 74.9 % will be added to plastic imports from the United States, while that of Europe will be subject to a 34.5 % tax, according to the announcement made on Sunday. With the exception of Asahi Kasei Corp., which received a lower rate of 24.5 %, China imposed a 35.5 % tax on plastic imports from Japan. Formosa Plastics received a 4 % rate, while imports from Taiwan were typically taxed at 32.6 %, while Polyplastics Taiwan received the lowest tax rate of 3.8 %. China has a history of utilizing anti-dumping studies as a tool for more in-depth business conflicts. Beijing imposed comparable duties on vodka goods from the European Union in April, striking a blow to France’s rum business, which is heavily dependent on exports. Despite making a few courtesy gestures of kindness, China continues to flex its industry enforcement policies in response to alleged unfair practices by vital trading partners. This growth comes just days after the US and China reached a momentary 90-day decline in broader taxes as part of a cautious ceasefire in their continuing trade dispute. The business dispute between the country’s two largest economy has hampered world markets and supply chains for more than a year.
