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EU protective PET duties set to be re-imposed
18/06/2015 10:28
The European Commission (EC) has proposed re-imposing tough definitive countervailing and antidumping duties on imports of PET into the EU from India.
The countervailing duties have a standard rate of 69.4% and the anti-dumping duties €153.6 (£132.2) per tonne. The EC also wants to re-impose antidumping duties of €143.4 (£121.6) per tonne on Taiwanese PET exports to the European Union (EU) and €83.2 (£70.5) per tonne on Thai exports.
They are levied on Indian PET with a viscosity number of 78 ml/g or higher, because of concerns that India is subsidising PET production, in breach of world trade rules.
The duties have been in place since 2000 but were about to lapse. The Committee of Polyethylene Terephthalate Manufacturers in Europe (CPME) claimed that without them, subsidised and Indian PET (and cut-priced Taiwanese and Thai PET) would flood the EU market, causing “the recurrence of injury to the [European] Union industry”. EU ministers are expected to rubber-stamp the tariffs.
As usual some companies cooperating with EC inquiries into the problems will receive lower duties. India’s Futura Polyesters is exempt from the countervailing duty. Another, Pearl Engineering Polymers, would have a lower anti-dumping duty – €87.50 (£74.2) per tonne, for example.
The countervailing duties have a standard rate of 69.4% and the anti-dumping duties €153.6 (£132.2) per tonne. The EC also wants to re-impose antidumping duties of €143.4 (£121.6) per tonne on Taiwanese PET exports to the European Union (EU) and €83.2 (£70.5) per tonne on Thai exports.
They are levied on Indian PET with a viscosity number of 78 ml/g or higher, because of concerns that India is subsidising PET production, in breach of world trade rules.
The duties have been in place since 2000 but were about to lapse. The Committee of Polyethylene Terephthalate Manufacturers in Europe (CPME) claimed that without them, subsidised and Indian PET (and cut-priced Taiwanese and Thai PET) would flood the EU market, causing “the recurrence of injury to the [European] Union industry”. EU ministers are expected to rubber-stamp the tariffs.
As usual some companies cooperating with EC inquiries into the problems will receive lower duties. India’s Futura Polyesters is exempt from the countervailing duty. Another, Pearl Engineering Polymers, would have a lower anti-dumping duty – €87.50 (£74.2) per tonne, for example.
12 June 2013
By Keith Nuthall
Source: prw.com
By Keith Nuthall
Source: prw.com
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