China’s Ministry of Commerce announced on Friday that it will extend anti-dumping duties on styrene imports from the Republic of Korea (ROK), the Taiwan region, and the United States for an additional five years, effective from June 23.
This decision follows a comprehensive review initiated in June 2023 after an application from the Chinese mainland styrene industry. The review concluded that terminating the duties could lead to the continuation or recurrence of dumping practices, potentially harming domestic producers.
Initially imposed in June 2018, the duties ranged from 6.2% to 7.5% for the ROK, 3.8% to 4.2% for the Taiwan region, and 13.7% to 55.7% for the United States. These measures were implemented to protect the Chinese mainland styrene industry from unfair pricing.
Styrene, also known as styrene monomer, is a key chemical used extensively in the plastics and rubber industries. The extension of these duties aims to safeguard domestic manufacturers and ensure fair competition in the market.
This move underscores China’s commitment to upholding trade regulations and maintaining a balanced market environment amid evolving global trade dynamics.
Reference(s):
China to extend duties on styrene from ROK, Taiwan region, U.S.
cgtn.com
