Part 9/11:
Chinese customs data shows a stark disparity in trade. Exports to the US have plummeted by 34.5% year-on-year; conversely, shipments to France and Germany have surged by 24.1% and 21.5%, respectively. Concerns have arisen in Brussels that this indicates a diversion of Chinese excess capacity from the US market to Europe, often at discounted prices.
The European Commission is cautiously monitoring these developments, implementing new customs surveillance to track potential trade diversions. There’s already action in the form of provisional anti-dumping duties of up to 62.4% on Chinese hardwood plywood.