By Daphne Zhang, Ella Cao and Lewis Jackson BEIJING, Dec 16 (Reuters) - China on Tuesday dramatically reduced tariffs on European Union pork imports worth over $2 billion in the final ruling of an
China Reduces Tariffs on EU Pork Imports After Investigation
By Daphne Zhang, Ella Cao and Lewis Jackson
BEIJING, Dec 16 (Reuters) - China on Tuesday dramatically reduced tariffs on European Union pork imports worth over $2 billion in the final ruling of an anti-dumping investigation widely seen as a response to the bloc's duties on Chinese electric vehicles.
China will impose tariffs of between 4.9% and 19.8% on pork imports from the bloc for a five-year period starting on Wednesday, far lower than the 15.6%-62.4% imposed in a preliminary decision in September, the Ministry of Commerce said in a statement.
That is a partial reprieve for European producers who rely heavily on the Chinese market for offal exports.
"This outcome reflects 18 months of concerted efforts to find a negotiated solution to this issue and a number of other trade disputes between China and the EU," said Even Rogers Pay, a director at Beijing-based Trivium China.
"The lower rates are a good sign that negotiations have been constructive, rather than destructive, for the relationship."
China's anti-dumping investigation, which began in June of last year, is widely seen as retaliation for the EU's tariffs on electric vehicles and has affected major pork exporters such as Spain, the Netherlands and Denmark.
China has also been conducting an anti-subsidy investigation into European Union dairy exports and has imposed anti-dumping measures on EU brandy. The measures allow exporters to avoid duties if they agree to sell at or above a set minimum price.
Talks between the two sides have so far failed to produce a deal, though French President Emmanuel Macron and Spanish King Felipe have both visited Beijing in the last two months.
(Reporting by Daphne Zhang, Ella Cao and Lewis Jackson in Beijing; Editing by Tom Hogue, Aidan Lewis)
