-
- New exporters Jinhua Otmar Technology Co Ltd and Jinhua Seno Technology Co Ltd will pay an anti-dumping tariff rate of 16.2%, down from 62.1%.
LONDON, England – The government has today, Tuesday 29 November approved the Trade Remedies Authority’s recommendation that two China-based electrical bicycle and tricycle manufacturers be given new exporter status and be allowed to pay a lower import tariff rate to export their products to the UK.
The new exporters, Jinhua Otmar Technology Co Limited, PRC and Jinhua Seno Technology Co Limited, PRC, will now pay an anti-dumping tariff rate of 16.2 percent, rather than the 62.1 percent they previously had to pay. Their new exporter status will come into effect from Wednesday 30 November. They will still have to pay a countervailing duty, meaning the combined duty for the new exporters will move from 79.3 percent to 33.4 percent.
The secretary of state for International Trade’s full decision can be read here, while the TRA’s final recommendation can be read here.
The UK e-bike market was worth £280 million in sales in 2020 and this is expected to triple by 2024. The change in tariff rate is expected to help meet demand in this growing market by making it possible for these new exporters to enter the UK fairly and by providing a wider range of options to UK consumers.
The TRA published its initial recommendation in a Statement of Essential Facts and interested parties had 21 days following its publication to comment on the review.
New exporter reviews allow new exporters to enter the UK market at a fair rate, rather than being penalised for not taking part in the original investigation. In this case, the TRA recommended that:
- The applicants are new exporters;
- They should pay a non-sampled, co-operating overseas exporter anti-dumping amount of 16.2 percent, rather than the 62.1 percent they currently have to pay;
- The new rate should be backdated to the initiation of the review on 23 June 2022.
Credit: Source link
