EU Imposes Anti-Dumping Duties on Terephthalic Acid from South Korea and Mexico
The European Commission has imposed definitive anti-dumping duties on terephthalic acid imported from South Korea and Mexico to protect EU producers in Belgium, Poland, and Spain. Duties range from 6.1% to 13.3% for South Korean products and 24.1% for Mexican products. The market is valued at about 1.4 billion euros, and the affected producers directly employ roughly 600 workers.
The European Union has imposed anti-dumping duties on terephthalic acid produced in South Korea and Mexico, in a move to protect manufacturers in Belgium, Poland, and Spain. Terephthalic acid is a raw material used to produce polyethylene terephthalate (PET), which is widely used in common plastic products.
The European Commission said in a statement that new anti-dumping duties on terephthalic acid from South Korea range from 6.1% to 13.3%, while the duty rate for Mexican products is 24.1%. The Commission noted that terephthalic acid is a strategic commodity for the EU, with a market valued at approximately 1.4 billion euros, and that producers in Belgium, Poland, and Spain directly employ about 600 people.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Basic Chemicals, with intensity 60/100 and 80% confidence over a short term horizon.
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