The Chinese mainland has announced the extension of anti-dumping duties on styrene imports from the Republic of Korea (ROK), the Taiwan region, and the United States for another five years starting June 23.
Styrene, a key chemical in the plastics and rubber industries, will continue to face import duties ranging from 6.2% to 7.5% for the ROK, 3.8% to 4.2% for the Taiwan region, and a substantial 13.7% to 55.7% for the United States.
This decision follows a review initiated in June 2023 by the Ministry of Commerce in response to concerns from the Chinese mainland's styrene industry. The ministry cited the potential for continued or renewed dumping practices if the duties were lifted, which could harm domestic manufacturers.
The extension aims to protect the competitiveness of the Chinese mainland's styrene sector in a global market, ensuring stability and supporting local businesses against unfair trade practices.
As global trade dynamics evolve, this move underscores China's commitment to safeguarding its industries while navigating complex international trade relationships.
Reference(s):
China to extend duties on styrene from ROK, Taiwan region, U.S.
cgtn.com
