Biden announced heavy duties on Chinese cars imported into the US and Beijing immediately launched an anti-dumping investigation into some chemical agents imported from the European Union, United States, Japan and Taiwan. The products at the center of the investigation belong to the category of copolymerized paraformaldehyde, which can partially replace copper, zinc, tin, lead and other metallic products and is used for car components, household appliances and industrial machinery.
The investigation, aimed at determining whether these products are exported at a lower price than that practiced in the country of origin, will be completed within a year, but could extend for another six months “in particular circumstances”, the Chinese ministry further announced of trade.
However, one thing must be remembered: to understand whether Western companies are dumping, an investigation is needed. While Xiaomi and other Chinese companies have beautifully admitted to doing so.
In any case, there is no doubt that Beijing’s measure is a response to the recent actions adopted by Washington, where as we said last week Joe Biden announced 100% duties on Chinese electric cars, and by Brussels, which has started a anti-subsidy investigation into imports of electric vehicles from China, while the imposition of higher duties by the EU is also being considered. The battle has just begun. Anything but the free market.
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