The European Union launched an investigation on charges of fraud in China
The eleventh of November it became known that Brussels will consist of a large-scale investigation against China. Earlier, the Ministry of Commerce has already initiated the opening of the case against the DPRK. Metallurgical company of China are suspected of supplying products to the U.S. and Europe through Vietnam.
The investigation launched by the European Bureau for combating fraud (OLAF).The objective of the investigation was carried out to find out if China is not directly — via a third country. Europe suspect that Chinese manufacturers have repeatedly evaded from payment of anti-dumping duties. First and foremost, it comes to import galvanized steel and cold rolled coils.
Bureau for the fight against fraud is going to test real cases of unfair importation of goods into the territory of the EU. It is suspected that the highest number of shipments were carried out via Vietnam.
In turn, the Ministry of trade of Vietnam also reacted to the situation. It is reported that OLAF intends to inspect two hundred cases where Chinese products have arrived in Europe with Vietnamese certificates. The checks will relate to the episodes occurred in the period from 2013 to 2014.
As representatives of the Chinese manufacturers — they refrain from commenting. But in case of confirmation of these suspicions, companies will have to pay anti-dumping duty. Recall that it amounts to fifty-eight percent. In addition, China will have to pay penalties and sled.
Recently, China’s Ministry of Commerce expressed its outrage at the secret investigation in the United States. The seventh of November it became known that in America, being tested on similar suspicions.
«Protectionism in international trade is gaining momentum. But some countries impose high restrictions on trade in steel. This, of course, distorts normal trade relations», — so reacted to the situation Shen Danyang, the Ministry of Commerce of the DPRK.
The investigation will be, perhaps, one of the most large-scale since 2010. It seems that the world community intends to seriously deal with unfair trade from China.
Although unlikely, the consequences of investigation can have a significant impact on imports from China. To stabilize the situation will require more stringent measures.
For Chinese steelmakers this is not the first episodes on charges of unfair trade.