Government raises anti-dumping duties on Chinese PET film after review

[Financial News] The Ministry of Economy and Finance has decided to raise the anti-dumping duty rates applied to Chinese polyethylene terephthalate (PET) film. It is the first time since the World Trade Organization (WTO) Anti-Dumping Agreement was introduced in 1995 that a product already subject to anti-dumping duties has been reviewed and its duty rate increased.
On the 26th, the Ministry of Economy and Finance announced that it had reviewed Chinese PET film currently subject to anti-dumping duties and decided to raise the applicable rates for two suppliers.
The government has imposed anti-dumping duties on Chinese PET film since May 2023. However, for some suppliers, domestic import volumes and market share have recently surged. Authorities therefore concluded that it was necessary to promptly correct market disruption caused by dumping and to protect domestic companies.
Under the new decision, two suppliers will face higher anti-dumping duty rates from the date the ministry’s ordinance takes effect: Kanghui New Material Technology and its related companies, and Tianjin Wanhua along with those exporting its products.
The government plans to continue strengthening monitoring of low-priced imports in light of the rapidly changing global trade environment. When necessary, it intends to actively protect domestic industries and companies through preemptive trade remedy measures.
syj@fnnews.com Seo Young-jun Reporter