EnThe European Commission will investigate Chinese exports of new and retreaded bus and truck tires following accusations of dumping below fair value. The Commission has up to nine months to make a decision in the case. Unsurprisingly the Chinese Ministry of Commerce is “concerned” about the case. This has a direct parallel in a U.S. case, where dumping had occurred but injury to industry had not been material, as outlined in Panjiva research of February 22. As a consequence duties were not levied.
Panjiva data shows that exports from China rose 9.4% in the past quarter on a year earlier, while those to the European Union climbed 34.8%. Shipments to the U.S. meanwhile fell by 10.5% even though the case there did not result in duties being applied. Longer-term the industry is in decline, with a 6.9% decline on a three year annualized basis. That has left suppliers to search for new buyers in replacement developed markets like Canada and emerging market customers in Africa.
Source: Panjiva
