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Eu tighten trade sanction system { March 8 2004 } Original Source Link: (May no longer be active)    http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1078381592094 http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1078381592094 EU to tighten trade sanction system By Tobias Buck in Brussels Published: March 8 2004 4:00 | Last Updated: March 8 2004 4:00 The European Union has decided to overhaul its procedures for imposing anti-dumping and anti-subsidy penalties on foreign businesses, making it harder for member states to block such sanctions. The reform has been agreed by EU governments and will be presented today by Pascal Lamy, the EU commissioner in charge of trade policy. Though experts say the practical impact of the overhaul will be limited, the changes underline the importance of anti-dumping and anti-subsidy instruments in the current economic climate. They allow countries or trade blocs such as the EU to slap punitive tariffs on imports sold at artificially low prices, provided they have caused material injury to domestic producers. European companies complain frequently that overseas rivals dump their wares on the EU market or that their competitors' prices are low because they receive illegal subsidies at home. Increasingly, their concerns are directed at China, reflecting the country's ever-rising ability to churn out goods cheaper and faster than in Europe or the US. China accounts for the largest share of new anti-dumping investigations by the EU over the past five years - 26 out of 181. If an investigation by the European Commission confirms that there is a case, Brussels has to ask the member states' permission to impose sanctions. Now, under the new rules, anti-dumping sanctions can only be blocked by a simple majority of EU member states. Before, sanctions could only be imposed if backed by a simple majority of EU governments, which meant that in effect abstentions counted against a proposal by the Commission to impose measures. This meant that countries could block anti-dumping measures without having to resort to outright opposition - leaving a convenient loophole in politically sensitive cases. Though Commission officials say the new rules would have led to a different result in only four cases in recent years, two of these occurred last year. In one case, the Commission failed to persuade a sufficient number of member states to support anti-dumping measures against imports of carbon black -a material used in the tyre and rubber industry. Officials later complained that governments had bowed to strong lobbying efforts from the tyre industry, but that the voting system allowed them to block the sanctions by simply abstaining.

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