U.S. Launches New Round of Trade Litigation Will Affect U.S. Automobile Parts Exports
Recently, the U.S. government formally issued a new round of trade lawsuit against the WTO on the export subsidies for Chinese autos and Auto Parts and requested the WTO to conduct an expert investigation. The lawsuit is expected to exert greater pressure on the export of auto parts in the city.
Relying on its strong industrial foundation and good port advantages, the city is becoming one of the major auto parts export destinations in the country. According to statistics of Ningbo Customs, the export of automobile parts in the city from January to August this year was 927 million US dollars, an increase of 8.1% year-on-year. The U.S. market is the major market for Ningbo auto parts exports. Customs data show that from January to August, the city exported 350 million U.S. dollars of auto parts to the United States, a year-on-year increase of 16.8%, and exports to the United States accounted for 37.8% of Ningbo auto parts exports.
“European debt crisis has dragged the pace of recovery in the EU market. The export of automobile parts in our city has begun to tilt toward traditional big countries such as the US and Canada as well as some emerging markets in the third world.†Cheng Tingting, analyst at Ningbo Customs Logistics Supervision Center, said, “The current US market trade Protectionism has a tendency to rise. However, the number of auto parts export enterprises in our city is large and the scale is small. Mainly private enterprises are the mainstay, and there is no professional division of labor and an industrial structure that is reasonably supported at different levels. This can easily cause trade friction and risk resistance. Lower, it is expected to further pressure the city's auto parts exports."
To this end, the Customs recommends that enterprises strengthen their independent research and development capabilities, expand emerging markets outside Europe and the United States, reduce dependence on major export markets, and reduce the adverse effects of economic shocks caused by individual economies.
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