🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UPDATE 1-INTERVIEW-EU trade chief: No decision on Asian shoes

Published 10/15/2009, 01:32 PM
Updated 10/15/2009, 01:36 PM

* EU trade chief has not received proposal to extend duties

* Talks with industry, member states continue until Nov. 3

* Most states, global brands oppose extending duties

By Darren Ennis

BRUSSELS, Oct 15 (Reuters) - The European Union's trade chief said on Thursday she had not yet decided whether to extend anti-dumping duties on EU imports of Chinese and Vietnamese shoes.

According to a document obtained by Reuters on Monday, the EU executive -- which oversees trade policy for the 27-nation bloc -- has proposed extending the tariffs for at least 15 months.

"The truth is I haven't taken any decision yet," Ashton told Reuters.

"What is going on is a discussion with member states and the parties involved on the issues. These are internal discussions which I haven't taken part in yet. The evidence has not yet reached me."

The 15-month proposal has been put forward in the paper by Ashton's services instead of the normal five-year term for what are known as "definitive duties" in an attempt to avert another so-called "shoe war" with member states and further damaging already tense economic relations with China.

The duties of 16.5 percent on Chinese shoes and 10 percent on those made in Vietnam must be approved by a majority of the EU's 27 governments, but most countries oppose extending the duties, diplomats involved in the case told Reuters.

Austria, Belgium, Britain, the Czech Republic, Cyprus, Denmark, Estonia, Finland, Germany, Ireland, Latvia, Luxembourg, Malta, the Netherlands and Sweden still want the duties scrapped immediately, sending a positive message before the lucrative Christmas retail period, the EU diplomat said.

But major shoe-producing members Italy, Spain, France and Poland want to keep the duties.

Companies and industry bodies affected by the proposal have been given until Nov. 3 to respond before Ashton decides whether to back the move before EU trade officials at a meeting of the bloc's anti-dumping committee later in November, before a full vote by ministers in December.

If approved by member states, the new duties would take effect from Jan. 3, 2010, much to the annoyance of large global footwear producers, major European retailers and consumers across the 27-nation bloc struggling to deal with the worst economic downturn in decades. (Editing by Matthew Jones)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.