EU set to reimpose 48.5 percent duty on Chinese bikes

The EU intends to re-impose a 48.5 percent duty to punish Chinese exporters for "dumping,". reports finance news provider Bloomberg.

The extension would be for three years rather than the usual five years.

“The anti-dumping measures on bicycles should be maintained,” the European Commission, said in a draft decision obtained by Bloomberg News. “It is appropriate to limit the current measures to three years.”

European trade protection against Chinese bicycles dates to 1993, when the EU introduced a 30.6 percent anti-dumping duty on imports from China. It was raised to 48.5 percent in 2005.

Anti-dumping tariffs have been imposed against Chinese made bicycles because of lobbying by Paris-based the European Bicycle Manufacturers’ Association, citing injury to EU producers.

China is the world’s leading bike manufacturer, producing about 80 million bicycles annually, of which 55 million are for export.