China Imposes Anti-Dumping Duties on POM Copolymers amid Trade Tensions
China levies anti-dumping duties up to 74.9% on POM copolymer imports from the U.S., EU, Japan, and Taiwan. This follows the U.S. upping tariffs on Chinese imports. These plastics, which replace metals in many applications, are significant to sectors like automotive and electronics.
In a strategic trade move, China has announced significant anti-dumping duties, reaching as high as 74.9%, on imports of POM copolymers. The engineering plastics, imported from the United States, European Union, Japan, and Taiwan, are now subject to these tariffs according to a Ministry of Commerce ruling made public on Sunday.
The announcement comes after a probe started in May 2024, right after the United States increased tariffs on various Chinese goods, including electric vehicles and computer chips. POM copolymers, known for substituting metals like copper and zinc, are vital in the automotive, electronics, and medical equipment industries.
Specifically, U.S. imports will face the steepest duties at 74.9%, whereas European and Japanese imports will face 34.5% and 35.5% respectively. Notably, Asahi Kasei Corp benefits from a lower rate at 24.5%. Taiwanese imports will incur duties up to 32.6%, with exceptions like Formosa Plastics and Polyplastics Taiwan, facing much lower tariffs.
(With inputs from agencies.)
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