China to Impose Duties on Imported Phenol Volumes.
China has decided to impose anti-dumping duties on increased imports of Phenol from the United States, the European Union, South Korea, Japan and Thailand with effect from September 6,2019. This is primarily because China's domestic industry has been strongly affected by increased dumping of Phenols from international players with South Korea as the top contributor in 2018 followed by the US. The tariffs will last for five years and would range from 10.6 percent to 287.2 percent. Majority of US companies, such as INEOS Americas LLC, will have to bear anti-dumping duties up to 287.2 percent and about 23.7 percent will imposed on South Korea, and 28.6 percent on Thailand.