EU Imposes Additional Tariffs on Chinese Aluminum Foil
The European Union on Wednesday announced additional tariffs on Chinese aluminum foil.
(Bloomberg) -- The European Union on Wednesday announced additional tariffs on Chinese aluminum foil following a complaint by European producers that China offered unfair subsidies.
Chinese companies received trade distorting state support in the form of preferential financing, export credit insurance, grant programs, tax exemptions, and cheap energy and land, the EU said in a notice published Wednesday in the Official Journal of the European Union.
The EU’s anti-subsidy duties on Chinese aluminum foil producers now range from 8.6% to 18.2%, depending on the producer. The EU’s combined anti-subsidy and anti-dumping duties on aluminum foil from China are applied at a rate of 16.1% to 46.7%, depending on the producer.
The tariffs will apply to the following Chinese companies: Nanshan Group, including Yantai Donghai Aluminum Foil Co., Ltd; Wanshun Group, including Jiangsu Zhongji Lamination Materials Co., Ltd; and Daching Group, including Xiamen Xiashun Aluminium Foil Co., Ltd.
The tariffs will benefit European foil producers like: Italy’s Carcano Antonio Spa; Eurofoil Luxembourg S.A.; and Germany’s Hydro Aluminium Rolled Products GmbH.
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