Insane! Suddenly impose 34% tariff on China!
Two major events in the Middle East, so that the entire international community nervous, the sudden collapse of the Syrian regime, Saudi Arabia then announced a 34% anti-dumping duty on China.
Saudi Arabia's General Administration of Foreign Trade announced that it has imposed anti-dumping duties on imports of sulfonated naphthalene formaldehyde (SNF) (concrete improver) originating in or exported from China and Russia.
The decision was announced by Majed Al-Qasabi, Minister of Commerce and chairman of the General Directorate of Foreign Trade (GAFT), and published in the official Gazette.
Saudi Arabia has announced that starting from December 3, 2024, it will ban imports of Concrete improvers Sulfated Naphthalene Formaldehyde (SNF) originating in or exported from China and Russia. A final anti-dumping duty of 18.12% to 34% was imposed. The products are valid for five years under Saudi tax codes 382440 and 290410.
Attached table: Saudi Arabia on sulfonated naphthalene formaldehyde concrete modifier anti-dumping final tax table
Saudi Arabia said the decision was issued under the International Trade Remedies Act to protect domestic industries from unfair trade practices.
As these low prices put pressure on local producers, especially in the context of the rapid development of the construction industry, the Saudi government believes that if it does not intervene, the living space of domestic enterprises will be further compressed.
The anti-dumping duties are designed to raise the price of imported goods, thereby gaining more market share and more favorable profit margins for local producers.
The market size of sulfonated naphthalene formaldehyde is gradually expanding, especially in the Middle East, with the continuous development of the construction industry in Saudi Arabia, the United Arab Emirates and other countries, the demand for sulfonated naphthalene formaldehyde is also showing a strong growth trend.
Saudi Arabia has always been an important partner of China in the Middle East, from energy imports to infrastructure construction, China-Saudi Arabia relations have been regarded as a model, and China's infrastructure investment in Saudi Arabia will ultimately benefit the Saudi people. By imposing tariffs, Saudi Arabia is hurting its own interests.
Of course, this does not mean that China-Saudi Arabia relations are broken. In order to counter Israel, Saudi Arabia still needs to import some sophisticated weapons from China that the United States has banned exports. This is the basis of our cooperation and an unchangeable reality.
But the Saudi move is also a wake-up call for China. State-to-state exchanges should ultimately be based on national interests.
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