European Union to impose additional tariffs on Chinese aluminium foil import
The industry body representing 80 plus member bodies of the European aluminium industry, European Aluminium stated that it will impose additional tariffs on aluminium foil importing from China following the European Commission discovered that producers in the region gained from excessive and unfair subsidies.
The tariffs on aluminium foil converters of certain thin classes, which will come into effect from 23rd December 2021, range from 8.6% to 18.2% and exceed the anti-dumping duties that there are between 6.0% and 28.5%.
The European Commission initiated an investigation after receiving complaints from EU manufacturers. China had identified aluminium foil as a key industry and intervened with the free play of market forces to promote the sector.
The Chinese state subsidies are in the form of financing with preferential terms, export credit insurance, grants, tax exemptions and government grants of land use rights and powers below market prices.
The investigation revealed that the EU's aluminium foil market share in China grew to 24% in 2019 from 18% in 2017, with a drop in average price, which restricted imports from other countries.
However, the complaints came from six European Union manufacturers, comprising Italy's Carcano Antonio, Luxembourg's Eurofoil and Germany-based Hydro Aluminum Rolled Products.
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