22
WEDNESDAY, NOVEMBER 14
1990
TRADE DEPT'S RESPONSE TO EC'S IMPOSITION OF
PROVISIONAL ANTI-DUMPING DUTY
* * *
*
OF THE EUROPEAN
COMMUNITIES HAS
IMPOSED A OF WITH
THE COMMISSION PROVISIONAL ANTI-DUMPING DUTY AT A RATE OF 2.4 PER CENT ON IMPORTS AUDIO CASSETTE TAPES FROM HONG KONG, EXCEPT FOR FOUR EFFECT FROM TODAY (WEDNESDAY).
COMPANIES,
THE PROCEEDING WAS A SPOKESMAN FOR THE TRADE DEPARTMENT SAID
WHICH AGAINST FIVE HONG KONG COMPANIES INITIATED IN JANUARY 1989 PARTICIPATED IN THE INVESTIGATION INTO DUMPING ALLEGATIONS.
FOUR OF THEM
MAGNETIC MAGNETICS, SWIRE
TO WERE FOUND
ENTERPRISES,
HAVE ZERO
FORWARD ELECTRONICS AND TOMEI MAGNETICS OR NEGLIGIBLE DUMPING MARGINS AND WERE, THEREFORE, NOT SUBJECT TO ANTI-DUMPING MEASURE.
A DUMPING MARGIN THE REMAINING COMPANY WAS FOUND TO HAVE 2.4 PER CENT AND A PROVISIONAL ANTI-DUMPING DUTY AT THE SAME RATE NOW BEEN IMPOSED ON IT, AS WELL AS ON OTHER HONG KONG COMPANIES DID NOT PARTICIPATE IN THE INVESTIGATION.
ANY
OF
HAS
WHICH
IMPOSING
THE SPOKESMAN DISPUTED THE COMMISSION'S RATIONALE FOR THE ANTI-DUMPING DUTY.
IS DUMPING
AN THAT "THE NORMAL
ASSOCIATED WITH SCENARIO
ORDER TO EXPORTER USES HIGH PRICES IN A PROTECTED DOMESTIC MARKET IN
OF THE
INDUSTRY DOMESTIC REDUCE PRICES OVERSEAS AND THUS UNDERMINE THE IMPORTING COUNTRIES.
HAVE A PROTECTED MOST OF WHICH
"HONG KONG HAS AN OPEN ECONOMY AND DOES NOT MARKET. IT IS MOST UNLIKELY THAT HONG KONG COMPANIES, ARE OF SMALL AND MEDIUM SIZE, WOULD DUMP,
"WE HAVE DRAWN THE COMMISSION'S ATTENTION TO THESE
TAKEN THEM
HAS NOT
INTO
FACTS,
BUT WHEN
ACCOUNT
REGRET THAT THE COMMISSION DECIDING ON THE IMPOSITION OF PROVISIONAL ANTI-DUMPING MEASURES.
"WE SHALL CONTINUE TO CONSULT WITH THE COMMISSION WITH
THE PROCEEDING TO SEEKING TERMINATION OF SPOKESMAN SAID.
A
VIEW
HONG AGAINST
KONG," THE
OVER THE RULING,
EXPRESSING THE DEPARTMENT'S DISSATISFACTION
IN BEEN
THE SPOKESMAN POINTED OUT THAT IMPORTS OF THE AUDIO CASSETTE TAPES QUESTION FROM HONG KONG INTO THE EUROPEAN ECONOMIC COMMUNITY HAD VERY SMALL, OCCUPYING ONLY ABOUT 1.5 PER CENT OF THE EEC MARKET SHARE.
SHOW THAT FOUR "IN ADDITION, THE COMMISSION'S INVESTIGATIONS
AGAINST THIS INVESTIGATED ARE EXONERATED. OF THE FIVE COMPANIES
HONG KONG COULD BACKGROUND, IT IS HARD TO BELIEVE THAT IMPORTS FROM HAVE CAUSED ANY SIGNIFICANT INJURY TO THE EEC INDUSTRY," HE SAID.
THE FINAL DETERMINATION ON WILL BE MADE WITHIN SIX MONTHS.
THE
DEFINITIVE ANTI-DUMPING
DUTY
/23