XN000022-1990-11-14 — Page 24

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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

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