EU imposes tariffs on aluminum converter foil

The European Commission has imposed countervailing duties on aluminum converter foils from China. Chinese manufacturers must now expect import surcharges of 16 to around 47 percent, the EU Commission announced on Wednesday. Aluminum converter foils are particularly important for manufacturers of EV batteries and the EU packaging industry. The decision was preceded by an EU investigation. The investigation had shown that Chinese foil producers benefited from state subsidies and, for example, received preferential financing or particularly cheap land. The import of these subsidized products had led to a loss of market share and a significant reduction in the profitability of the EU producers. ari