🔥 China strikes back!🔥
Plastic under fire – tariffs up to 74.9% 🇨🇳⚔️🇺🇸🇪🇺🇯🇵🇹🇼
The PRC has imposed anti-dumping tariffs of up to 74.9% on industrial plastic POM from the USA, EU, Japan, and Taiwan. This is a response to American tariffs and another escalation in the trade war.
📉 What happened:
▪️ USA – up to 74.9%
▪️ EU – up to 34.5%
▪️ Japan – up to 35.5% (Asahi Kasei – 24.5%)
▪️ Taiwan – up to 32.6% (Formosa – 4%, Polyplastics – 3.8%)
📦 POM – an important engineering plastic: automotive, electronics, medicine.
📊 Context:
▪️ Industrial production in China in April +6.1% (March: +7.7%)
▪️ Retail +5.1% – growth is slowing down
Who would have thought that even plastic would become a geopolitical weapon? 🤯
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