China announced on Tuesday that it will lower duties on pork and pig by-product imports from the European Union, bringing to a close a year-long anti-dumping investigation into European pork shipments.
The revised tariffs, set between 4.9% and 19.8% for a range of European pork exporters, will take effect Wednesday and remain in place for five years, the Chinese commerce ministry said.
The announcement marks a significant reduction from the temporary anti-dumping measures imposed by China in September, when some pork imports from the EU faced cash deposit requirements at rates as high as 62.4%.
This trade dispute followed heightened tensions between China and Brussels, after the EU imposed tariffs of up to 45% on Chinese electric vehicle imports last October—measures Beijing condemned as protectionist.
The European Union stands as the world’s top pork exporter, sending about 13% of its annual production abroad, with China being its largest market, according to S&P Global estimates.
China has also extended their anti-subsidy investigation into European dairy exports and levy anti-dumping duties on EU brandy. Under these measures, exporters can avoid tariffs if they commit to selling at or above a designated minimum price.
Despite ongoing negotiations, the two sides have yet to reach an agreement.
