The Chinese government announced that it will extend the anti-dumping tariffs imposed on styrene from South Korea, the United States, and Taiwan for the next five years.
On the 21st, the Ministry of Commerce of China stated in a notice posted on its website that "following a one-year investigation into styrene from the United States, South Korea, and Taiwan, it was determined that if the anti-dumping measures were to end, products from these countries and regions could continue or resume dumping into mainland China, causing ongoing harm to China's styrene industry."
According to this measure, the anti-dumping tariffs ranging from 3.8% to 55.7% imposed on these products will be maintained for another five years starting from the 23rd. In 2018, tariffs on U.S.-made styrene products ranged from 13.7% to 55.7%, resulting in the greatest impact among the sanctioned countries. South Korean products were subject to tariffs of 6.2% to 7.5%, while Taiwanese products faced tariffs of 3.8% to 4.2%.
Meanwhile, styrene is a raw material used in polymers (high molecular petrochemical substances) such as polystyrene, a type of thermoplastic plastic, and synthetic resin (resin).
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
