Overview
Steptoe international trade lawyer Yongqing Bao, based in the firm’s Brussels office, was cited in a May 31 article in Xinhua, the Chinese news agency, titled “Interview: Trade Protectionism Hurts All: European Trade Experts.” The article discusses new anti-dumping rules agreed on by European Union member states on May 3 that contain a revised methodology for calculating dumping prices.
Mr. Bao says the new methodology does not virtually cease the surrogate country approach. Instead, it intends to continue using it in a disguised way and that could lead to even higher duties on a third country's producer. He adds that obviously, trade protectionism will reduce the overall economic well-being because consumers and downstream businesses must pay a higher cost for the same goods or raw materials.
The full article can be read at Xinhua.
