The European Parliament’s International Trade Committee’s vote to update the anti-dumping duties was welcomed by the European Conservatives and Reformists (ECR) Group.
Based on the new rules, anti-dumping import duties are placed when the price of the import has been significantly distorted from normal market value. This replaces a previous system where the duties were levied on whether the country had “market economy status”.
“The previous rules for antidumping duties did not provide any more certainty at WTO level,” said ECR shadow rapporteur, Sander Loones. “The new process of judging whether the price of goods have been significantly distorted by comparing it to normal market price, based on the cost of production, is seeking compatibility with WTO rules and is set not to incur any additional burden to EU industries.”
According to Loones, the method will be applied to goods such as steel being dumped on the European market from any country, including China, where severe market distortions of the price and costs are not result of the free market.