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Trade War threatens: EU punishes Chinese price dumping
EU Commission finds that China dumps the prices of the solar panels that dominate the European market.
04th June 2013 KL. 16:57
EU Commission Tuesday made a decision that could potentially trigger a gigantic trade war between the EU and China.
EU Trade Commissioner Karel de Gucht said at a news conference that the commission has decided to impose penalty tariffs on solar panels from China in response to Chinese price dumping.
Parties in Brussels and Beijing are according to the Commissioner now has two months to find a solution before punitive tariffs reaches its full extent.
Sold to 88 percent below cost price
Thus, in a first stage a duty of 11.8 percent with effect from Thursday this week. If no solution is found, it will rise to 47.6 percent on 6 August says Karel de Gucht, according to Reuters.
- Today the European Commission has unanimously decided to impose punitive tariffs on Chinese solar panels after finding out that they were sold for up to 88 percent lower than the cost in the European market, says EU Commissioner.
He explains that the incremental increase in duty will allow a smooth transition and act as a one-time offer for the Chinese to negotiate.
Will push the Chinese to respect the rules
- It is not about protectionism. It is about ensuring that international trade rules also apply to Chinese companies, he says.
EU members to the December vote on whether punitive tariffs should be made permanent.
The case of the Chinese solar panels have in recent months received considerable attention in Brussels by the EU's biggest ever anti-dumping case, and there have been far from agreement on the procedure.
Concern with, among others, Germany
Germany has led a group of more than 15 European countries, who fear that harsh penalties may lead to an open trade war with China.
The total trade between EU countries and China have an annual value of more than 3700 billion. Alone, Chinese exports to the EU of solar cells and related products have a total value of 157 billion dollars.
According to industry organization ProSun is the Chinese manufacturers of 80 percent of the European market.
EU Commission finds that China dumps the prices of the solar panels that dominate the European market.
04th June 2013 KL. 16:57
EU Commission Tuesday made a decision that could potentially trigger a gigantic trade war between the EU and China.
EU Trade Commissioner Karel de Gucht said at a news conference that the commission has decided to impose penalty tariffs on solar panels from China in response to Chinese price dumping.
Parties in Brussels and Beijing are according to the Commissioner now has two months to find a solution before punitive tariffs reaches its full extent.
Sold to 88 percent below cost price
Thus, in a first stage a duty of 11.8 percent with effect from Thursday this week. If no solution is found, it will rise to 47.6 percent on 6 August says Karel de Gucht, according to Reuters.
- Today the European Commission has unanimously decided to impose punitive tariffs on Chinese solar panels after finding out that they were sold for up to 88 percent lower than the cost in the European market, says EU Commissioner.
He explains that the incremental increase in duty will allow a smooth transition and act as a one-time offer for the Chinese to negotiate.
Will push the Chinese to respect the rules
- It is not about protectionism. It is about ensuring that international trade rules also apply to Chinese companies, he says.
EU members to the December vote on whether punitive tariffs should be made permanent.
The case of the Chinese solar panels have in recent months received considerable attention in Brussels by the EU's biggest ever anti-dumping case, and there have been far from agreement on the procedure.
Concern with, among others, Germany
Germany has led a group of more than 15 European countries, who fear that harsh penalties may lead to an open trade war with China.
The total trade between EU countries and China have an annual value of more than 3700 billion. Alone, Chinese exports to the EU of solar cells and related products have a total value of 157 billion dollars.
According to industry organization ProSun is the Chinese manufacturers of 80 percent of the European market.
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