China Eases Tariffs on EU Pork Amid Trade Tensions

China has lowered tariffs on EU pork imports following an anti-dumping investigation. The new rates, ranging from 4.9% to 19.8%, are significantly lower than initially proposed. This decision reflects ongoing trade negotiations amid retaliatory measures against EU tariffs on Chinese electric vehicles and other goods.

In a significant development, China announced on Tuesday a reduction in tariffs on European Union pork imports, valued at over $2 billion. The decision, stemming from an anti-dumping investigation, lowers tariffs to between 4.9% and 19.8%, compared to previously proposed rates of up to 62.4%, as detailed by the Ministry of Commerce.

The move provides a partial reprieve for European pork producers, heavily reliant on the Chinese market, particularly for offal exports. Even Rogers Pay, a director at Trivium China, remarked on the positive outcome of 18 months of negotiations aimed at resolving this and other trade disputes between China and the EU.

Tariff cuts come as part of wider trade tensions, wherein China's investigation is seen as a counteraction to EU's tariffs on Chinese electric vehicles. The Chinese government is also evaluating EU dairy exports and has imposed measures on brandy. Despite high-level visits from European leaders to Beijing, a comprehensive trade agreement remains elusive.

(With inputs from agencies.)