Loones: New anti-dumping rules provide clarity to businesses
ECR MEP Sander Loones has welcomed the European Parliament’s International Trade Committee’s vote to update the anti-dumping duties which will provide clarity and protection to businesses.
The new rules passed by the committee today will ensure that 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”.
ECR shadow rapporteur, Mr Loones said: “Trade means more jobs and greater prosperity. However, free trade can only be guaranteed if that trade is based on rules. We must protect our market from artificially cheap imports that undercut competitiveness of European businesses. Today’s vote will ensure the EU continues to tackle dumping and unfair commercial practices. And SMEs will be specifically helped with the procedures.”
“The previous rules for antidumping duties did not provide any more certainty at WTO level. 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.”
“We will be able to apply the method 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.”