Increase tariffs on China! Up to 235.6%! Effective immediately!

Sunny Worldwide LogisticsIt is a logistics company with more than 20 years of transportation experience, specializing in Europe, the United States, Canada, Australia, Southeast Asia and other markets. It is more of a cargo owner than a cargo owner~

The European Union recently decided to impose high anti-dumping duties on Chinese erythritol manufacturers, with the highest tax rate reaching an astonishing 235.6%. This moveTargeting the world’s largest erythritol manufacturer, although its main market is the United States, the EU market still accounts for nearly one-third of its total sales.

What is particularly noteworthy is that the company's 2023 financial report showed that the revenue of the erythritol business was 408 million, while the cost was as high as 412 million, which means that the product is already at a loss. This time the EU’s tariff measures have noIt is suspected that this is adding insult to injury to the company.

As a popular low-calorie sweetener, erythritol has seen a surge in demand due to the global "sugar substitute craze", especially in the sugar-free beverage market.

The EU's investigation showed that China's imports of erythritol increased by 36% during the designated investigation period, but the EU believed that the prices of these products were subject to "interference" and therefore adopted temporary tariff measures.

Recently, reports from Bloomberg and Reuters showed that the European Biodiesel Board (EBB) quoted the regulatory agency in a statement as saying that the European Commission will impose temporary anti-dumping duties on biofuels imported from China within the next four weeks, with the tax rate starting from It ranges from 12.8% to 36.4%.

Data show that in 2023, China exported 1.8 million tons of biodiesel to the EU, accounting for more than 90% of China's total biodiesel exports.

in addition,China has become the largest biodiesel exporter among the 27 EU member states.If the imposition of anti-dumping duties is implemented, it will definitely have a considerable impact on relevant Chinese companies.

In this regard, Ministry of Commerce spokesperson He Yongqian said that China has noticed that the European Commission released a preliminary ruling on its anti-dumping investigation into biodiesel from China on July 19 and plans to impose temporary anti-dumping duties on biodiesel imported from China.

China is highly concerned about the European protectionist behavior in the biodiesel industry.

The EU is the world's largest consumer of biodiesel.The purpose of importing biodiesel from China is to meet the huge consumer demand in the EU market and accelerate the realization of its own green transformation and energy conservation and emission reduction goals.

China has always advocated the reasonable and prudent use of trade remedy measures, and urged the EU not to rashly adopt trade protectionist measures and to resolve mutual concerns with China through dialogue and consultation.

Faced with the EU's behavior that clearly harmed the rights and interests of Chinese companies, China's Ministry of Commerce responded quickly and announced that it would impose anti-dumping duties on imported stainless steel billets originating from the EU and other countries as a reciprocal counterattack.

This series of events shows that the EU has repeatedly launched tariff attacks on Chinese products in just half a month. The intention behind it is to raise the threshold for Chinese products to enter the European market, showing its trade protectionist tendencies.

However, the EU's approach is actually digging its own grave. It believes that it can play the role of "getting something out of the fisherman" in the game between China and the United States, but it ignores the reality of global economic interdependence.

Especially considering the uncertainty of the U.S. political situation, if trade protectionists such as Trump come to power, the EU may face greater pressure from the United States, and it may be too late to seek cooperation with China by then.

Therefore, China's tough attitude towards the EU is not unreasonable, but an inevitable reaction after many friendly communications and negotiations have failed.

China has made it clear that if the EU continues to adhere to its trade protectionist stance, China will have to take reciprocal countermeasures to safeguard the legitimate rights and interests of its own companies and a fair competitive environment in the market.