Critics of Trump’s hefty tariffs on China frequently treat them as radical measures far outside the norms of global trade. However, Trump is not the only one slapping anti-dumping tariffs on China. The EU has also imposed heavy duties on some types of Chinese exports.
The European Commission said on Monday it had imposed duties of up to 66.7 percent on imports of Chinese machines that lift construction workers after concluding that the producers were benefiting from unfair subsidies and selling at artificially low prices.
These include boom lifts (AKA cherry pickers) and scissor lifts.
The extra duties on Chinese mobile access equipment (MAE) will range from 20.6 percent to 66.7 percent, the Commission said, as it sought to protect domestic producers in the EU market worth more than 1 billion euros [per] year.
The tariffs are the latest in a series of EU anti-dumping and anti-subsidy duties focused on Chinese imports, including a high-profile investigation into Chinese-built electric vehicles, which culminated last October.
The EU executive, which conducted the investigation, said Chinese MAE producers had benefited from preferential financing, grants, state provision of inputs at below-market rates.
The Commission said Chinese producers had gained a 41 percent market share in the year from October 2022, from 29 percent in 2020, and sold at prices some 20 percent below EU competitors.
The tariffs will apply to Chinese companies such as Hunan Sinoboom Intelligent Equipment, Zoomlion Intelligent Access Machinery and Zhejiang Dingli Machinery. EU MAE producers include French companies Haulotte and Manitou.
The European Union now has in place anti-dumping or anti-subsidy duties on almost 80 Chinese products from truck tyres to ironing boards.
Trump’s shock and awe approach has already drawn numerous nations to the negotiating table to lower or eliminate tariffs. There’s no guarantee that Trump’s tariffs will necessarily bring China to negotiate, though Trump is in a much stronger position than Xi Jingping, and there are already signs that China might cave. But clearly Trump isn’t the only one calling China on their unfair trade practices, and there seems to be fairly broad consensus in the west that the time of allowing China to unfairly dump products without consequences is at an end.
Tags: China, Communism, Economics, EU, Foreign Policy, tariffs, trade, Trade War, Xi Jinping
[…] IT’S A GAME THE WHOLE WORLD CAN PLAY: Trump’s Not The Only One Slapping Tariffs On China. […]
China running a trillion dollar trade surplus, a trade surplus that keeps increasing, cannot continue indefinitely.
I have my doubts about that.
“Critics of Trump’s hefty tariffs on China frequently treat them as radical measures far outside the norms of global trade.”
Money seeks its highest “use value”. Capital is invested where it is most valued. So policies that punish capital investment, such as capital gains taxes, discourage economic activity.
Similarly, as tariffs are added to the cost of consumer goods, the demand for them decreases. The return to capital from consumer goods falls. This makes the capital used to produce them less valuable and so it’s price will fall.
So the knock-on effects of tariffs are revealed to be injurious to capital.
Tariff apologists of the world unite! You have nothing to lose but your capital base.
@ Malthus,
That’s only if they stay in place. If used as bargaining points, and mutual reductions in tariffs are achieved, as is apparently about to happen with India and the UK, then what? Oh, then they aren’t purely bad, huh?
“Money seeks its highest “use value”. Capital is invested where it is most valued. So policies that punish capital investment, such as capital gains taxes, discourage economic activity.
Similarly, as tariffs are added to the cost of consumer goods, the demand for them decreases. The return to capital from consumer goods falls. This makes the capital used to produce them less valuable and so it’s price will fall.
So the knock-on effects of tariffs are revealed to be injurious to capital.
Tariff apologists of the world unite! You have nothing to lose but your capital base.”
The CCP is surrendering. We will finally return to a reasonably normal capital market, undistorted by the CCP chicanery which was the real injury to capital and the entire free market.