China's Ministry of Commerce (MOC) announced on Wednesday an increase in the rate of anti-dumping duties on ethylene glycol monobutyl ether and diethylene glycol monobutyl ether imported from the United States and EU countries.
File photo: Ministry of Commerce (Chinanews.com)
Ethylene glycol monobutyl ether and diethylene glycol monobutyl ether are primarily used as solvents for paints and other chemicals.
The following is a list of new anti-dumping duties:
Companies in the US
1. Equistar Chemicals, LP 37.5%
2. Eastman Chemical Company 46.9%
3. The Dow Chemical Company 75.5%
4. All others 75.5%
Companies in EU members
1. INEOS Chemicals Lavera SAS 43.5%
2. Sasol Germany GmbH 10.8%
3. Sasol Solvents Germany GmbH 10.8%
4. BASF SE 18.8%
5. All others 43.5%
As of April 12, 2018, importers shall pay the relevant anti-dumping duties to China Customs when importing the specified products from the above companies.
The anti-dumping duties shall be levied by means of the ad valorem tax on the basis of dutiable value authorized by China Customs, and the formula is: Anti-dumping duties = dutiable value authorized by China Customs multiplied by the rate of anti-dumping duties.
The import value-added tax shall be levied through the ad valorem tax with the dutiable value authorized by China Customs plus the tariff and anti-dumping duties as the taxable value.