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Today’s Top Headlines




China In More Trade Disputes in 2016

by Mary Swire, Tax-News.com, Hong Kong

09 January 2017

At a press conference on January 5, the Chinese Ministry of Commerce spokesperson, Sun Jiwen, disclosed that the number and value of new trade investigations brought against Chinese exports rose sharply in 2016.

27 foreign jurisdictions (including regions) began 119 trade remedy investigations last year, up by 36.8 percent compared with the 85 investigations initiated in 2015. Those investigations comprised 91 anti-dumping, 19 anti-subsidizing, and nine safeguard measure cases.

The total value of goods involved in those cases also increased to USD143.4bn in 2016, a 76 percent growth over the USD80bn seen in 2015.

Sun also noted that almost half of the new trade remedy cases were commenced against Chinese steel producers – 21 countries/regions initiated a total of 49 cases, involving almost USD79bn in steel products.

Other Chinese products involved in trade disputes in 2016 were mainly concentrated in the chemical and light industrial sectors, with tires and photovoltaic products suffering trade friction from more than one country/region.

Sun pointed out that "trade remedy measures are a double-edged sword affecting both parties to a dispute. As the current global economic recovery remains weak, the Ministry hopes that countries will exercise prudence and restraint, and will regulate the use of such measures. China confirms its willingness to make joint efforts with other countries through consultation, cooperation, and other means, to resolve trade friction and jointly promote economic prosperity and development."

TAGS: tax | anti-dumping | China | manufacturing | trade disputes | import duty | trade

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