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China announced on Sunday that it will impose anti-dumping duties of up to 74.9% on POM copolymers — a type of engineering plastic — imported from the United States, European Union, Japan, and Taiwan. These plastics are commonly used in auto parts, electronics, and medical devices as substitutes for metals like copper and zinc. This move follows an investigation launched in May 2024, just after the U.S. increased tariffs on a wide range of Chinese products, including electric vehicles and semiconductors. In January 2025, China introduced provisional duties after finding preliminary evidence of dumping. According to the Commerce Ministry: U.S. imports face the steepest duty at 74.9%. EU shipments will be charged a 34.5% tariff. Japanese imports are generally hit with a 35.5% duty, except for Asahi Kasei Corp, which has a lower rate of 24.5%. Taiwanese goods will carry a 32.6% duty, though Formosa Plastics and Polyplastics Taiwan secured much lower rates at 4% and 3.8%, respectively. This decision concludes China’s anti-dumping probe, underscoring rising trade tensions after the U.S.-China tariff escalation. Signs of Trade Thaw Amid Broader Concerns Despite the tariffs, there is a glimmer of hope that tensions may ease. Both the U.S. and China have reportedly agreed to reduce some tariffs under a 90-day truce. Chinese state media, including the Global Times, called for this agreement to be extended. However, the Asia-Pacific Economic Cooperation (APEC) group expressed concerns about the global trade system, noting “fundamental challenges” following its recent meeting in South Korea. China’s Economic Data: Mixed Signals On Monday, Asian markets dipped after new data highlighted ongoing weaknesses in China’s economy. Though tariffs are starting to impact exports, the domestic economy has shown some resilience. According to the National Bureau of Statistics: Industrial output grew 6.1% in April year-on-year, a slowdown from 7.7% in March but stronger than economists’ expectations of 5.5%. Retail sales rose 5.1% in April, slightly below the 5.9% rise in March and the forecast of 5.5%. Fixed asset investment increased 4.0% in the first four months of 2025, just shy of the projected 4.2%. The property sector remains a key drag: Property investment fell 10.3% year-on-year during January–April, deeper than the 9.9% drop in Q1. Property sales declined 2.8%, a slight improvement from the 3.0% dip in Q1. New construction starts plunged 23.8%, compared to a 24.4% drop in the previous quarter. Outlook While China’s latest move on anti-dumping duties signals its intention to protect domestic industries, the broader economic picture remains uncertain. Though certain areas like industrial output are outperforming forecasts, weak retail sales and continued struggles in real estate reflect the lingering challenges posed by global trade friction and internal economic pressures. 2 China Imposes Up to 74.9% Anti-Dumping Duties on Engineering Plastics from US, EU, Japan, and Taiwan
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