Beijing, June 21, 2024, The Europe Today: The Ministry of Commerce of China has announced that it will continue to levy anti-dumping duties on styrene imported from the Republic of Korea (ROK), the Taiwan region, and the United States for another five years, effective from June 23. This decision follows a comprehensive review and is intended to protect the Chinese mainland styrene industry from unfair trade practices.
Initially, in June 2018, the Ministry of Commerce imposed anti-dumping duties on styrene imports from these regions, setting the duties at rates ranging from 6.2 percent to 7.5 percent for the ROK, 3.8 percent to 4.2 percent for the Taiwan region, and 13.7 percent to 55.7 percent for the United States. These measures were established for a period of five years and were aimed at countering the adverse effects of dumping on the domestic market.
Styrene, also known as styrene monomer, is a crucial chemical used extensively in the plastics and rubber industries. Its continued dumping by foreign producers has posed a significant threat to local manufacturers.
In June 2023, the Ministry of Commerce initiated a review of the existing anti-dumping measures in response to an application from the Chinese mainland styrene industry. The review concluded that terminating the anti-dumping duties would likely result in the continuation or recurrence of dumping, thereby causing further harm to the domestic industry.
The Ministry of Commerce’s decision to extend these duties underscores China’s commitment to ensuring fair competition and supporting the domestic styrene industry against unfair international trade practices.
