Latest news with #anti-dumping
Zawya
2 days ago
- Business
- Zawya
US launches anti-dumping probe into Egyptian rebar exports
Arab Finance: The US International Trade Commission announced a preliminary anti-dumping and countervailing duty investigation into imports of steel concrete reinforcing bars (rebar) from Egypt, Algeria, Bulgaria, and Vietnam. Unless the Department of Commerce extends the time for initiation, the commission shall issue a preliminary determination by July 21 st on whether Egyptian and other mentioned countries materially injured or threatened the US industry. The commission will also have to present its views to the commerce within five business days thereafter, or by July 28 th, 2025. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
2 days ago
- Business
- Reuters
Exclusive: French cognac makers offer China minimum import prices to fend off tariffs
PARIS/LONDON, June 12 (Reuters) - Negotiators representing French cognac producers suggested minimum prices for exports to China of between $20 and around $300 per litre as an opening bid in talks aimed at ending a tariff stand-off with China, a document seen by Reuters shows. The minimum prices are part of efforts to avoid permanent tariffs of up to 39% amid tense negotiations with China's commerce ministry, which has opened an anti-dumping investigation focused on the sector. They were sent to producers several weeks ago for their approval by a Paris-based law firm negotiating on the spirit makers' behalf. A spokesperson for the law firm, GIDE, declined to comment. The industry, grappling with falling sales and simultaneous tariff threats from the United States, its other key market, has been fighting to secure a deal with China since Beijing first threatened to levy the duties in January 2024. The move came amid a wider trade dispute with the European Union after it imposed tariffs on imports of Chinese electric vehicles. A flurry of political meetings in Paris and technical discussions in Beijing last week raised hopes that a settlement of the trade spat was imminent. But the talks ended with no deal, leaving just weeks to go before a July 5 deadline for Beijing to wrap up its anti-dumping probe. Chinese authorities subsequently announced that the industry had made a voluntary "price pledge" and it was reviewing its terms. The price list seen by Reuters included a "minimum import price" for different bands of cognac defined by how long the spirit has been aged, ranging from two years for the cheapest "Very Special" (VS) cognacs to the most expensive "Extra Extra Old" (XXO), aged 14 years or more. Under the offer, VS cognac would have a minimum import price of 144.70 yuan ($20.16) per litre, while "Very Superior Old Pale" (VSOP), aged for at least four years, would be priced at 177.92 yuan. High-end "Extra Old" (XO) would cost 526.52 yuan to import, with the XXO category, where prices reach thousands of dollars per bottle and more, costing at least 2,126.07 yuan ($296.16) per litre. France's BNIC industry body declined to comment on the prices, citing confidential negotiations. "We keep waiting and hoping for a good outcome," a BNIC spokesperson said. The prices in the document refer to the price paid for cognac by importers in China, with distributors, wholesalers, retailers and consumers paying more to buy it. Reuters was not able to determine current import prices across the sector, led by LVMH's ( opens new tab Hennessy, Pernod Ricard's ( opens new tab Martell and Remy Cointreau's ( opens new tab Remy Martin. Hennessy's VS cognac currently sells to consumers for around $100 per litre on Tmall. Remy Martin's cheapest label meanwhile fetches around $110 to $350 for its XO cognac. Chinese authorities have already imposed steep provisional duties on imports of European brandy - mostly made up of French cognac - in the dispute with the EU. Laurence Whyatt, analyst at Barclays, said it wasn't clear the industry had made a major concession in the price offer seen by Reuters. "Import prices are usually a third to a half of the retail price, so the prices detailed appear commensurate to the existing import prices," he said. However, the document seen by Reuters reflected the sector's opening offer and talks are ongoing. A source familiar with the discussions said after weeks of back and forth, the two sides seem potentially close to agreement, but another person said the talks were tough and the sector was being pushed to make a bad deal. A settlement with China, the most important export country by value for France's $3 billion cognac industry, that removes the duties would be a boon for the sector, whose growth prospects have been hurt by the tariff dispute. ($1 = 7.1788 Chinese yuan renminbi)
Bloomberg
26-05-2025
- Business
- Bloomberg
Chinese Steel Exports to Drop as Barriers Mount, Says Goldman
The blowout in Chinese steel exports has likely peaked, as trade barriers mount and domestic production falls, according to Goldman Sachs Group Inc. Exports climbed last year to a nine-year high of 111 million tons, but are forecast to moderate by 3% in 2025 before dropping more sharply by a third in 2026, the bank said in a note on Friday. The biggest headwind to sales is the substantial number of ongoing anti-dumping investigations around the world, the bank said.
Reuters
07-05-2025
- Business
- Reuters
China to impose anti-dumping measures on cypermethrin from India
BEIJING, May 7 (Reuters) - China's commerce ministry on Wednesday said it would impose anti-dumping duties ranging from 48.4% to 166.2% on cypermethrin originating from India for a period of five years effective immediately. The move follows an investigation that found the domestic industry had suffered substantial damage and that there was a causal relationship between dumping and material injury, the ministry said. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Cypermethrin, an insecticide used in agriculture and sanitation, controls pests on crops such as cotton, vegetables, corn and flowers, according to the ministry.
Zawya
06-05-2025
- Business
- Zawya
China to impose anti-dumping duties on cypermethrin from India
China's commerce ministry said on Tuesday it will impose anti-dumping duties on imports of cypermethrin originating from India for five years starting May 7, following a final finding of dumping and harm to Chinese producers. Cypermethrin, an insecticide used in agriculture and sanitation, controls pests on crops such as cotton, vegetables, corn and flowers, according to the ministry. (Reporting by Beijing Newsroom)
