CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

EU threatens to renew Chinese bicycle tariff for 5 more yrs

07-14-2010 11:34 BJT

BRUSSELS - The European Union threatened to renew a tariff on bicycles from China for another five years while scrapping similar levies against Vietnam.

The EU said it would reconsider letting lapse the 48.5 percent duty on Chinese bicycles while allowing levies of as much as 34.5 percent on Vietnamese bikes to expire.

The bloc imposed the import taxes in July 2005 to punish Chinese and Vietnamese exporters of bicycles for selling them in Europe below cost, a practice known as dumping. The goal was to help EU producers including Accell Group NV counter a decline in their home-market share.

The review will determine whether the expiry of the duty against China "would be likely, or unlikely, to lead to a continuation of dumping and recurrence injury", the European Commission, the 27-nation EU's trade authority in Brussels, said in the Official Journal. The measure was due to lapse this week along with the levies against Vietnam and will now stay in place during the probe, which can last as long as 15 months.

The investigation results from an April 13 request by the European Bicycle Manufacturers Association, which claims that letting the trade protection against China lapse would likely result in a continuation of dumping by Chinese bike exporters and a recurrence of injury to the EU producers, according to the commission.

European trade protection against Chinese bicycles dates to 1993, when the EU introduced a 30.6 percent anti-dumping duty on imports from the country. The bloc renewed that levy in 2000 before raising it to the current 48.5 percent in 2005 at the same time as introducing anti-dumping duties on imports from Vietnam.

Editor:Xiong Qu |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program