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Anti-dumping duty on polyester yarn to raise auto textile part prices
06 Dec '10
2 min read
After the European Union (EU) Council of Ministers' decision of further imposing the anti-dumping duty on imports of Chinese items for a period of five years, the price of strong polyester yarn is likely to shoot up in the EU markets. The yarn is used for manufacturing automotive textile parts like seatbelts and airbags.
The 9.8 percent duty imposition would also apply to the 'high tenacity yarn' along with monofilament of less than 67 decitex that China exports to the EU for use by the auto parts producers. The yarn can also be used for strengthening tyres.
However, the plans of imposing such taxes on imports from Taiwan and South Korea were not implemented. The duties were imposed in response to the report submitted by the European Commission after due investigation into the charges laid by CIRFS and the European Man-made Fibres Association claiming that low-priced imports from three of the Asian countries – China, Taiwan and South Korea were causing their members to lose their business.
The Commission confirmed the charges in relation to China, and directed the Ministers to sanction the protective duties. This was done regardless of the assertions that the auto sector and other final industrial users may have to confront several challenges as the suppliers of textile products continue to increase the prices.
The 9.8 percent duty imposition would also apply to the 'high tenacity yarn' along with monofilament of less than 67 decitex that China exports to the EU for use by the auto parts producers. The yarn can also be used for strengthening tyres.
However, the plans of imposing such taxes on imports from Taiwan and South Korea were not implemented. The duties were imposed in response to the report submitted by the European Commission after due investigation into the charges laid by CIRFS and the European Man-made Fibres Association claiming that low-priced imports from three of the Asian countries – China, Taiwan and South Korea were causing their members to lose their business.
The Commission confirmed the charges in relation to China, and directed the Ministers to sanction the protective duties. This was done regardless of the assertions that the auto sector and other final industrial users may have to confront several challenges as the suppliers of textile products continue to increase the prices.
Fibre2fashion News Desk - India
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