EU Says No To Shoe Tariff Extension
By: Ainsley Brown
The European Union (EU) last week rejected a plan that called for the extension of duties placed on Chinese and Vietnamese footwear.
While a bit of a setback for Trade Commissioner, Baroness Ashton, the vote was far from a clear rebuke of her wishes to see the duties extended for a further 15 months. The Anti-dumping Committee voted 15-10, with two abstentions not to extend the duties imposed in 2006.
Baroness Ashton, however, will have another shot at convincing EU members to extend the duties as there will be another vote on the matter some time later this month. This will be an uphill battle for the Trade Commissioner, as EU members will be mindful of increasing protectionist tension between the EU and China.
I will go on the record as right now and say that I believe that the second EU vote will confirm the first. How large the margin of victory will be, that I cannot predict. However, it is imperative that the EU quell trade tensions with China, especially in these times of economic crisis, and not extending these duties would send the right signals. This is not to say that the tension would magically end over night – not at all, that would require countless hours of diplomatic negotiations – but it would greatly aid in getting the ball rolling.
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