UAE Imposes Anti-Dumping Measures Against Chinese Goods

The United Arab Emirates has implemented anti-dumping measures to discourage a surge of Chinese goods in the local markets following US and European tariff barriers, Dr. Thani Al Zeyoudi,  Minister of Foreign Trade, said while speaking at the World Economic Forum.

Speaking at the WEF’s annual meeting session titled ‘Taming Trade’, the UAE minister said that the country is taking protective measures while maintaining its commitment to being an open economy.

Al Zeyodi said that the UAE is trying to keep the economy open; however, it has taken measures in the last week to handle the huge dumping coming from China into the UAE’s local market. He said that as Chinese material is facing tariff barriers in the US and other European countries, it is getting redirected to the UAE, threatening local industries.

Read also: UAE Unveils AI-Based System To Handle Work Permit Applications

“UAE must protect its industries, otherwise we are going to compensate for something against the other”, he emphasised.

While underlining the global trade environment, Al Zeyoudi said that businesses and governments must accept the 10 percent US tariff baseline for at least the next three years, as discussed with the administration. “I do not think, and even with the discussion with the administration, at least for the upcoming three years, we will see a reduction below the 10 percent”, he said.

The UAE trade minister discussed two scenarios emanating from the tariffs imposed by the US administration and its expansion. Firstly, the extreme reaction from countries such as China. The reaction from China escalated the tensions, which were not expected by the US administration itself, and led to the tariff expansions to other countries. Secondly, the minister said, extreme acceptance by countries such as Vietnam and other Asian countries pushed the US administration to demand more.

Read also: Saudi Crown Prince Announces Mega Transformative Project Near Makkah Grand Mosque

UAE seems to execute an aggressive offensive trade diversification strategy amid the uncertainty.