(Yicai Global) May 10 -- China is strongly opposed to the latest decision by the European Union to levy anti-dumping tariffs on Chinese truck and bus tires and urged the 28-member bloc to treat Chinese companies fairly.
The European Commission, EC, the executive arm of the EU, used the surrogate country method in its anti-dumping investigation, where data of companies in other countries, rather than cost statistics from Chinese producers, are used, and the resulting dumping margins were artificially inflated, said Gao Feng, spokesman of China's Ministry of Commerce, MOFCOM, at a press briefing today. The Chinese government expressed strong objection to the decision, he added.
MOFCOM urges the EU to treat Chinese companies fairly in anti-dumping inquiries in line with its obligations under Article 15 of the Protocol on China's Accession to the World Trade Organization, WTO, Gao said.
The Commission announced on May 7 that it would impose tariffs on truck and bus tires imported from China, adding the decision will come into force on May 8 and remain effective for six months. The tax may be extended by five years after the initial six-month period.
Chinese and European tire companies have maintained close partnerships in technology and market development activities, Gao added, warning that the restrictions will not only harm Chinese producers but jeopardize the long-term interests of the European tire industry and consumers.
China hopes that the EU will conduct related investigations carefully and ensure fair treatment of market-based operations of Chinese enterprises. China will monitor progress in the matter closely, and effectively safeguard Chinese companies' rights and interests.
Editor: Mevlut Katik