China lowers anti-dumping tariffs on European pork exporters
China on Tuesday announced lower duties on pork imports and pig by-products from the European Union.
TL;DR
- China announced lower duties on EU pork imports and pig by-products.
- New tariff rates range from 4.9% to 19.8% and will last five years.
- The move concludes a year-long anti-dumping investigation into European pork imports.
- Temporary anti-dumping tariffs of up to 62.4% were imposed earlier in September.
- Trade tensions escalated after the EU imposed tariffs on Chinese electric vehicles.
- China launched the anti-dumping probe in response to EU measures against its EV sector.
- The EU is the largest pork exporter, with China as its biggest buyer.
- China's trade surplus reached a record over $1 trillion as of November.
- Past disputes involved China's rare earth exports and the export of semiconductors.