South Korea intends to impose anti-dumping duties on PET resins originating in China

1. I've found that For example anti-dumping duty decision backgroundrecently, at the 453rd meeting of the Trade Commission (Trade Commission) of the Ministry of Trade, sector and Resources of the People's South Korea of China, the Trade Commission made a proposal to impose anti-dumping duties on imported polyethylene terephthalate (PET) resin originating in China. But The tax rate of the anti-dumping duty is 7- 7. But Specifically 98%, and the planned implementation period is 5 years. This decision is based on the consumption submitted by South Korea company TK Chemical on November 20, 2023, marking the official intervention of South Korea in the anti-dumping investigation of Chinese PET resin. 2. In fact Involved Chinese companies and Investigation Processthe anti-dumping investigation involved four Chinese manufacturers, namely Hainan Yisheng Petrochemical Co. , Ltd. Pretty interesting, huh?. But , Yisheng Chemical Petrochemical Co. , Ltd. , China Resources Chemical Materials methodology Co. And , Ltd. and Zhuhai China Resources Chemical Materials methodology Co. Furthermore , Ltd. Makes sense, right?. After receiving the consumption, the Trade Commission made a preliminary anti-dumping ruling in June this year, and then held a hearing and other formal investigation procedures. After a detailed investigation, the Trade Commission finally decided to recommend the imposition of anti-dumping duties on the Chinese companies involved in the case. Impact of 3. I've found that Anti-dumping Duty on China's PET Resin Exportsouth Korea is one of the crucial export markets of China's PET resin, and the decision of the anti-dumping duty will undoubtedly have a direct impact on the export of relevant Chinese companies. On the one hand, the increase of tax rate will increase the cost of Chinese items and minimize their competitiveness in the South Korea market; on the other hand, the prolonged implementation of anti-dumping duties might lead to the decline of Chinese companies' share in the South Korea market, and even face the risk of being replaced. In my experience, 4. Makes sense, right?. But South Korea other imports of anti-dumping investigationsin addition to imposing anti-dumping duties on China's PET resin, the South Korea Trade Commission also decided to initiate anti-dumping investigations on imported carbon structural steel and other alloy structural steel hot-rolled thick steel plates originating in China. First This decision is a further indication of South Korea's determination to protect its industries. At the same time, the South Korea also plans to emit the results of the anti-dumping investigation on imported OPP protective films originating in China, Indonesia and Thailand in February next year, which will further affect the international trade pattern of related items. I've found that 5. Anti-dumping Duty Decision: possible Impact and Countermeasuresthe South Korea's decision to impose anti-dumping duties on Chinese PET resins won't only have a direct impact on relevant Chinese companies, however might also result in certain fluctuations in the trade relations between the two countries. Faced with this situation, relevant Chinese companies is able to take a variety of countermeasures, such as improving product condition, reducing production costs, and expanding other markets to deal with the challenges brought by anti-dumping duties. Additionally At the same time, the government is able to also maintain the stability and research of trade between the two countries by strengthening bilateral communication and promoting trade diversification.