Potential EU-China Trade War and its Impact on Global Pork Trade
A potential trade war between the EU and China could have major repercussions for the global pork trade, including in the UK, experts have warned.
China’s Ministry of Commerce (MOFCOM) confirmed in mid-June that it was launching an anti-dumping investigation into EU pork products. This followed an announcement from Brussels that it was introducing new tariffs of up to 38.1% on imports of Chinese electric vehicles (EVs) from today, July 4.
Also:
- Spain Calls for Talks to Avoid Tariffs on EU Pork Exports to China
- EU pork industry faces ‘nightmare’ if China restricts imports
- China firms seek anti-dumping probe of EU pork imports, ramping up tensions
If it goes ahead, the investigation, which should be completed within a year but can be extended for six months, could ultimately result in new tariffs being imposed on EU pork exports to China.
China imported 1.55 million tonnes of pork, including offal, worth $6 billion in 2023, with the EU accounting for around half of that. The threat of a trade war therefore sparked concern across the EU, particularly among the big pork exporters.
The European Commission’s vice president Valdis Dombrovskis and Chinese commerce minister Wang Wentao have begun talks in a bid to find a resolution.
It was reported today that Mr Dombrovskis told Bloomberg Television that talks with China were ongoing. “We are not seeing the basis for retaliation as what we are conducting is indeed in line with WTO rules,” he said.
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