Page 44 - Plastics News September 2019

BUSINESS NEWS

US-China trade war creates competitive edge for European players

he trade war between China and the U.S. is creating trade, which … means that another $75 billion … is about
Tadditional opportunities for European exporters of to have new or additional tariffs imposed upon them — a
plastics, plastic products and materials in both these key VLJQLÀFDQW EXUGHQ IRU 8 6 VXSSOLHUV WR &KLQD VDLG WKH
markets, as both sides erect protective tariffs against VWUDWHJLF FRQVXOWLQJ ÀUP LQ D VWDWHPHQW :LOO WKH 8 6 DQG
HDFK RWKHU :KLOH WDONV VWDOO WR UHVROYH WKH GLVSXWH RYHU Chinese governments reach an agreement on their disputes
American claims of RYHU WUDGH DQG UHPRYH WKHVH WDULIIV" 7DONV LQ 6HSWHPEHU
Chinese misconduct are still scheduled, with the Chinese government calling
regarding intellectual on the U.S. to create diplomatic conditions conducive
property, industrial to a deal President Donald Trump is optimistic, saying, "I
subsidies and market think we're going to have a deal because now we're dealing
access, duties of 10 on proper terms. They understand and we understand."
percent are being However, China's State Council Tariff Commission has been
imposed by the U.S. on far less enthusiastic, saying, "The U.S. measures have led
Chinese goods and 10 to the continuous escalation of Sino-U.S. economic and
percent and 5 percent trade frictions, which have greatly harmed the interests
by China on imports of China, the United States and other countries."
from the U.S.Both sides have announced these latest
duties will be imposed in two stages, on September 1 and
then on December 15. On September 1, U.S. duties will Toshiba changes its name to
take effect on Chinese plastic products such as bathroom Shibaura Machine
À[WXUHV GLQLQJ VHWV IXUQLWXUH QXUVLQJ SURGXFWV IDVWHQHUV
laminated wallpaper, clothing, footwear, jewelry and
VDQLWDU\ LWHPV 3DUDIÀQ ZD[ DQG RWKHU FKHPLFDOV DUH DOVR oshiba Machine Co. Ltd. of
OLVWHG 3ODVWLF RIÀFH DQG VFKRRO VXSSOLHV RUQDPHQWV TJapan has announced that
waterbeds, pneumatic mattresses, other footwear, high it will change its corporate
chairs, toys and hair accessories will be added to the list name to Shibaura Machine Co.
from this year December 15. Ltd. effective April 1, 2020.
Toshiba Machine is the parent
The Chinese retaliatory duties on U.S. exports focus more company of Toshiba Machine
on basic plastic materials lines. Beijing's duties will include Co., America. Shareholders
5 percent tariffs on American-made plastic molds; PVC; approved the change and
SODVWLF PRQRÀODPHQW VWULSV URGV DQG SURÀOH SURÀOHV associated by-laws at a
SODVWLF WXEHV KRVHV SLSHV DQG 39& VKHHW ÀOPV IRLOV DQG meeting in June 2019. Shibaura is a core part of Toshiba
ÁDW VWULSV IRU LQVWDQFH 7KHVH GXWLHV ZLOO WDNH HIIHFW DW Machine’s history .The company said in the release at
the beginning of September. Variable duties of 5 percent the 96th ordinary general meeting of stockholders held
and 10 percent apply to U.S.-made plastic consumer on June 21, 2019, the change in our company name was
SURGXFWV VXFK DV EDWK À[WXUHV ER[HV EDJV DQG IXUQLWXUH authorized so that as of April 1, 2020, we will change
and suitcases and some footwear. Later in December our company name from Toshiba Machine Co., Ltd. to
15, China will impose 10 percent duties on American Shibaura Machine Co., Ltd. Together with this change,
plastic sanitaryware, tableware, window panels, clothes we will be changing our logo and our other corporate
and sculptures. The December tariffs will also cover a design elements in order to increase recognition of
SHUFHQW GXW\ IRU SODVWLF FDSV ÁRZHUV GRRUV ZLQGRZ our new company name and brand, as well as improve
frames, boots and buttons as well as a 10 percent rate on our brand image.
U.S.-made plastic molding and calendaring machines. The
trade war, said Hong Kong-based Asian business advisers ´:H ZHUH IRXQGHG LQ DV 6KLEDXUD 0DFKLQH 7RRO
Dezan Shira & Associates, was weakening U.S. export Co.,” said Toshiba Machine President Takahiro Mikami.
competitiveness. "The new tariffs represent an overall In 1961, the company merged with a corporate spinoff
total value of about 10 percent of all U.S.-China bilateral to form Toshiba Machine Co. Ltd.

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