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January 26, 2017

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Home » Business » Finance

EU’s extension of duties ‘confusing, disappointing’

Source: Xinhua | January 26, 2017, Thursday | Print Edition

THE Ministry of Commerce said yesterday that the EU extension of anti-dumping measures on imports of Chinese aluminum wheels is confusing and disappointing.

The remarks came after the European Commission, the bloc’s executive arm, said on Tuesday that it would extend anti-dumping measures for another five years with duty remaining at 22.3 percent.

Wang Hejun, head of the ministry’s trade remedy and investigation bureau, said it is “unfair” to blame the weak performance of European Union aluminum wheel makers on Chinese enterprises, since the true reason is the global economic downturn.

Wang explained that despite a price gap, aluminum wheels from China are mainly for retail, while EU-made wheels are for finished automobiles. Rather than damaging EU aluminum wheel industry, Chinese products fill a gap in the market.

He said having levied anti-dumping duties on Chinese products for more than six years, the EU is being overprotective of its producers.

The extension of remedy measures will hurt both Chinese firms and the EU auto industry and consumers.

It was “confusing” and “disappointing” to see the commission continue protective measures openly opposed by EU auto industry associations, Wang said.

He stressed that China hopes the EU will fulfill its promise in fighting trade protectionism and use remedy measures in a prudent, reasonable and restrained way, so as to ensure open and fair market competition.

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