The European Union has taken a firm stance against what it calls unfair trade practices, slapping hefty anti-dumping duties on hardwood plywood imports from China. The move, announced Tuesday by the European Commission, comes after an investigation revealed a significant surge in dumping over the past three years, causing substantial harm to European plywood producers.

Provisional duties of up to a staggering 62.4 percent have been levied on these imports. The Commission’s official document clearly states the imposition of a provisional anti-dumping duty on hardwood plywood originating from the People’s Republic of China.

This decisive action highlights the EU’s commitment to protecting its domestic industries from unfair competition. The investigation uncovered evidence of Chinese producers selling plywood in the EU market at prices significantly below their normal value, a practice known as dumping. This undercutting severely impacted European businesses, leading to job losses and economic strain.

The 62.4 percent duty aims to level the playing field, ensuring fair competition and safeguarding the livelihoods of European plywood manufacturers. This is a developing story, and further updates will be provided as they become available.