European Union imposes tariffs on Egyptian exports to counter China subsidies: An EU tariff of 8.7% on Egyptian glass fiber reinforcements took effect yesterday as part of an attempt by the bloc to crack down on government-supported Chinese manufacturers, according to Bloomberg. The move is meant to counter alleged subsidies to Jushi Egypt for Fiberglass Industry, a subsidiary of Chinese giant Jushi Group that had set up shop in the Suez Canal Economic Zone in 2012.

Background: European glass-fiber manufacturers have claimed to have suffered “material injury” due to what they described as trade-distorting Egyptian government incentives for Jushi Egypt, including an exemption from value-added tax and import tariffs. Egypt’s share of the European market for glass fiber reinforcements almost tripled to 14% between 2016 and 2018 while China’s share fell to 5% from 8%.

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