NZ Importers to Pay Tariffs on Goods Being Sold Below Cost
Importers could face retrospective tariffs for bringing frozen fries to New Zealand. The Ministry of Business, Innovation and Employment (MBIE) has announced it is investigating the dumping of potato fries from Europe after calls from the local potato industry.
They say that trade data shows that frozen potato products exported from the EU to New Zealand jumped by 50 percent in June. Chris Claridge, the chief executive at Potatoes New Zealand, told Heather du Plessis-Allan that they are relieved that MBIE has decided to investigate.
He says that our trade partners have been alerted, and importers are now on notice. “[MBIE] can put in place temporary tariffs on importers being sold at what is effectively below cost into the New Zealand market.”
Claridge says that importers will be warned that this is not a good measure, as the tariffs could be retrospective. He says any option should be considered that ensures the domestic industry is protected from this activity.
“It’s probable to say this kind of thing goes on quite a bit, and other industries are subject to this.”
Earlier this year, there were reports of lockdowns causing stocks of potatoes to back-up throughout Europe.
SOURCE: NewsTalk ZB
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