EU imposes tariffs on ironing boards from China and Ukraine

EU

The European Union imposed tariffs of as much as 38.1% on ironing boards from China and Ukraine, seeking to shield British, Italian and Polish producers from imports that represent about half the EU market.

The EU duties punish Chinese and Ukrainian exporters for selling ironing boards in the 25-nation bloc below domestic prices or below the production cost, a practice known as “dumping.” The anti-dumping duties are for six months and may be prolonged for five years. EU ironing-board makers suffered “material injury” because “low-priced, dumped imports from the People's Republic of China and Ukraine increased dramatically,” the Brussels- based European Commission said today in the Official Journal. The levies will take effect tomorrow. Chinese and Ukrainian exporters increased their combined share of the EU ironing-board market to 48% last year from 6% in 2002, undercutting at least 30 primarily small and medium-sized EU producers located mainly in Italy, Poland and the UK, according to the commission. The EU imported about 4.1 million ironing boards from China and Ukraine in 2005, according to the commission, which said EU manufacturers sold half that number in the bloc last year.

The commission, the EU's executive arm, didn't identify any producers in the bloc. The six-month EU duties are 10.3% for Ukraine and range from 18.1% to 38.1% for China. Ukraine's sole exporter of the product is Eurogold Industries Ltd., which is affiliated with Switzerland-based Eurogold Service Zumbuehl & Co. Chinese exporters include Zhejiang Harmonic Hardware Products Co. and Guangzhou Power Team Houseware Co., according to the commission. Under EU procedures, the commission can introduce provisional anti-dumping duties for six months and the bloc's national governments can impose “definitive” five-year levies at the same or different rates. Separately today, the EU began a review of a 22.5% anti-dumping duty on a ferroalloy from China to determine “the need for the continuation, removal or amendment” of the levy. The review, which will last as long as 15 months, comes a week after the EU suspended the duty on ferro molybdenum for nine months. The suspension aims to reduce costs for EU steelmakers including Arcelor Mittal after imports from China fell, prices rose and European ferroalloy producers such as Belgium's Sadaci NV profited. (Bloomberg)

 

Bamosz Investment Fund NAV Reaches HUF 15.624 tln in March Analysis

Bamosz Investment Fund NAV Reaches HUF 15.624 tln in March

Gov't Considering Fuel Price Intervention Government

Gov't Considering Fuel Price Intervention

Share of 1st Time Home Buyers Climbs Residential

Share of 1st Time Home Buyers Climbs

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D... Hotels

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.