China cuts tariffs on EU pork imports worth over $2 billion, following an anti-dumping investigation linked to EU duties on Chinese electric vehicles.
China has significantly reduced tariffs on European Union pork imports valued at over $2 billion, according to a report by Reuters. This decision comes in the wake of an anti-dumping investigation that is widely perceived as a response to EU tariffs on Chinese electric vehicles.
The Ministry of Commerce announced that the new tariffs will range from 4.9% to 19.8% and will be effective for five years starting December 17. These rates are considerably lower than the preliminary tariffs of 15.6% to 62.4% that were announced in September.
Importers will receive refunds for the difference between the higher preliminary tariffs and the final rates.
This decision provides partial relief to European producers who depend on the Chinese market, particularly for offal products that have limited demand in other regions.
