China said Saturday the European Union’s move to raise tariffs on imports of Chinese coated fine paper is “discriminatory and unfair”, and it will take measures to protect local companies’ interests, the Wall Street Journal reported. The comments by Chinese commerce ministry spokesman Yao Jian followed the EU’s announcement that it would impose duties, ranging from 4-12%, on Chinese paper that is used for brochures and magazines. The tariffs would last five years, according to the EU. The European Commission, the EU’s executive arm, started investigating last year on complaints from a group of EU paper producers, led by the European unit of South African paper giant Sappi (SPP.NYSE). The EU argues that the subsidies given to Chinese paper makers include cheap financing from government-controlled banks, and land sold by the state at low rates.
Categories