China imposes shock taxes on imported pork, four countries face difficulties

Recently, China's Ministry of Commerce announced that it will apply a temporary anti-dumping tariff at the highest threshold of up to 62.4% on EU pork exports. EU pork export companies will have to pay a large deposit, but it is not yet clear whether it will be refunded. The tariff is currently applied in the form of a deposit, with companies cooperating with the investigation facing tariffs from 15.6% to 32.7%, while other enterprises face the highest rate of 62.4%. The investigation is expected to conclude in December of this year. This move comes based on preliminary investigation results from China that EU pork and pork products are being sold at or below production cost or below the domestic market price, causing damage to the domestic livestock industry; aiming directly at the EU's billion-dollar export industry. China accounts for up to 25% of the total EU pork exports, with a record value of over 8 billion USD in 2020. After many years of decline, pork exports to China ...