FX.co ★ China Imposes Anti-Dumping Duties on Plastics

China has announced the imposition of anti-dumping duties on polyformaldehyde copolymers, an engineering plastic, imported from the United States, the European Union, Japan, and Taiwan. The country's Commerce Ministry detailed that imports from the US will incur the steepest duties, reaching up to 74.9%. European producers are subject to a 34.5% duty. This action follows an investigation commenced in January, which initially identified the dumping of these products and led to the provisional imposition of measures from January 24 in the form of a deposit. Specifically, imports from Japan will face duties of 35.5%, except for those from Asahi Kasei Corp, which will be subjected to a lower, company-specific duty rate of 24.5%. In the case of Taiwanese imports, a general duty rate of 32.6% has been set, but certain companies benefit from reduced tariffs: Formosa Plastics at 4% and Polyplastics Taiwan at 3.8%.