Abstract The US media said that a clause of the World Trade Organization (WTO) for China's accession to the WTO is about to expire, which may lead to an increase in the prices of European goods made from Chinese imported parts and raw materials. According to the US "Wall Street Journal" website reported on December 6, December...
The US media said that a clause of the World Trade Organization (WTO) for China's accession to the WTO is about to expire, which may lead to an increase in the prices of European goods made from Chinese imported parts and raw materials. According to the US "Wall Street Journal" website reported on December 6, the clause expired on December 11, the EU will either give China "market economy status", thus using Chinese data in anti-dumping cases to calculate tariffs; or draft new rules, thereby Eliminate differences in the EU's past treatment of market and non-market economies.
Edwin, a partner at Brussels-based law firm VVGB Advocaten, said that China is unlikely to gain market economy status when the WTO terms expire. He said that the southern European countries and the industrial sector have put too much pressure on them to maintain protection measures and even raise tariffs.
According to the report, according to the proposal announced last month, the European Commission is working to adjust its anti-dumping and countervailing policy framework to facilitate the implementation of more stringent regulations.
Stephen Adams, a partner at London-based consultancy Global Counsel LLP, said that financial executives who outsource part of their supply chain to Chinese companies are concerned. He said that when companies outsource their operations to China, tariffs are seen as cost factors rather than protection measures.
The European automotive industry may be hit by the EU's higher import tariffs on intermediate parts such as Chinese parts and aluminum wheels. European carmakers, including German BMW Motors and French Peugeot and Renault, are currently paying a 22.3% tariff on imported Chinese aluminum wheels. This specific tax is currently being reviewed by the European Commission.
A person familiar with the European automotive industry said that the auto industry was hit by these punitive tariffs. The person also said that these are unnecessary extra costs, and car manufacturers could have invested the money elsewhere.
Other industries may also suffer. German chemical company Wacker Chemie exports polysilicon to China, which is used in China to produce solar panels, and the solar panels produced are sold back to Europe. Some German textile producers are also worried about tariffs on Chinese imports. For the production of industrial textiles, many companies rely on Chinese substrate supply.
Wacker Chemical did not respond to requests for comment from reporters.
Xu Bin, a professor of finance at Shanghai China Europe International Business School, said that if the EU does not grant China's market economy status, European companies may face Chinese retaliatory measures.
In a statement issued on November 10, the Chinese Ministry of Commerce stated that China will retain the right to take all necessary means and resolutely safeguard its legitimate rights and interests. The previous day, the European Commission formally submitted a proposal to amend its anti-dumping legal system.
The report said that European companies operating in China are currently worried that China will take retaliatory measures. Javier Jimeno, the general representative of the French industrial company Compagnie de Saint-Gobain SA in the Asia-Pacific region, said that friction is not good for all parties, so tough unilateral measures should be avoided.
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