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Taiwan to support chemical producers amid China's anti-dumping probe

05/19/2024 09:30 PM
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CNA file photo
CNA file photo

Taipei, May 19 (CNA) Taiwan's Ministry of Economic Affairs (MOEA) pledged assistance on Sunday to local polyformaldehyde copolymer producers in navigating an anti-dumping investigation by China, which is also taking aim at imports from the European Union, the United States and Japan.

According to the MOEA, it will work with industry stakeholders to submit opinions to China's Ministry of Commerce (MOC) within a 20-day deadline starting Sunday, as well as assist in subsequent trade remedies.

Earlier in the day, the MOC announced the anti-dumping investigation after reviewing materials provided by six Chinese companies that applied for assistance on behalf of the industry on April 22.

The probe will target polyformaldehyde copolymer imported from suppliers in Europe, the U.S., Taiwan and Japan in 2023, and will assess any damage those imports caused to the Chinese POM copolymer industry between Jan. 1, 2021 to Dec. 31, 2023, the MOC said.

The investigation is expected to last until May 19, 2025, but may be extended for half a year under special circumstances, according to the MOC.

According to the MOEA, China previously conducting an anti-dumping investigation related to POM copolymer products from South Korea, Thailand, and Malaysia and began collecting anti-dumping tariffs against suppliers in those countries starting in 2017.

The material, an engineering thermoplastic, is known for its dimensional stability and high stiffness and is widely used in many industrial sectors, including automotive parts, electronic devices, and construction materials.

Suppliers in Taiwan export approximately 47,000 metric tons of POM copolymer a year to China valued at US$79 million to China.

From 2021 to 2023, Taiwan accounted for about 12.7-14.1 percent of China's total POM copolymer import value, making it the fourth-largest source of supply after the EU, South Korea, and the U.S., MOEA data showed.

On the other hand, about 60 percent of Taiwan's exports of the chemical go to China, with Vietnam, Turkey and India, among Taiwan's other export markets for the product, according to the MOEA.

(By Chang Ai and Lee Hsin-Yin)

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