As trade friction continues to brew between two of the world's largest economies, China anti-dumping duties on US PVC products is about to materialize. Market sources informed SSESSMENTS.COM that the Chinese government had entered the review process for new anti-dumping duty. The ministry of commerce will announce the decision on anti-dumping duty against US PVC cargoes in the next 160 days starting from June 1.
This development follows an anti-dumping duty (ADD) and countervailing duty (CVD) petition launched by the Chinese PVC association against imports of PVC from the US. Submissions of this petition to the ministry of commerce already started on April 17. Based on information from the trader, it is certain the ministry has taken a swift decision to continue the process of imposing anti-dumping duty as the deadline looming on May 7. If the process goes according to the timeline obtained by SSESSMENTS.COM, the temporary tariffs for US origin PVC cargoes with the anti-dumping duty imposed will appear by October 14. Review of temporary duties will last until the government decides in the final correction of anti-dumping duty at the end of 2020. An inquiry of the results of the ADD application on imported PVC cargoes will then take place until March 2021.
However, one of the local traders pointed out as China-USA tensions escalated these days, new tariffs may be announced anytime soon. The trader commented that market players should take caution and to immediately settle customs obligations if involve with cargoes from the United States. SSESSMENTS.COM noted that imposing anti-dumping duty on US PVC cargoes will not be a new policy, last enacted by China on October 30, 2019. After then, China announced the removal of anti-dumping duty on PVC cargoes from four countries: the U.S, South Korea, Japan and Taiwan.
Recently, on May 9 the Chinese government implemented anti-dumping duties for the next five years on steel tubes and pipes originating from Western Europe and the United States. Anti-dumping duty has also just been applied to barley products originating from Australia on May 18 as trade tension between two countries escalated amid coronavirus handling.
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Tags: Americas,Asia Pacific,China,English,NEA,News,PVC,US,World
Published on June 4, 2020 4:48 PM (GMT+8)Last Updated on September 26, 2020 7:59 AM (GMT+8)
