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New Tax on Chinese Imports
28 November 2012
On 16th November 2012 the European Union introduced new legislation, placing import duties on tableware coming in from China. It is for a six-month trial period and will be reviewed in May.
These duties range from 17.6 to 31.2% for around 400 Chinese producers or groups who cooperated with the investigation and represent over 60% of Chinese exports to the EU. A residual duty of 58.8% applies to all other exporting Chinese companies.
In a joint statement Kevin Oakes Chief Executive of Steelite International and Max Dudson, CEO of Dudson Limited said:
“Steelite International fully supports this legislation and has been lobbying strongly for the imposition of the duty. Quite simply we have been seeking a level playing field in which to do business.
“Following an investigation by the European Union it has been revealed that producers in China are operating at an unfair advantage which enables them to sell into the European and UK markets at artificially low prices. It was discovered that factories do not pay full price for assets, raw materials and fuels, which are being subsidised by their Government and do not operate their business in accordance with international trading laws.
“This means producers across the world cannot compete on price, and a tax levy will go some way towards allowing us to compete on equal terms.
“We will continue to lobby at UK and European Government level on this issue with a view to extending the levy period.”