原标题：大成代理中国企业在美国对中国和越南纸浆模塑产品反倾销、反补贴调查获得全国最低税率 2025年9月25日，美国商务部（U.S. Department of Commerce）做出对华纸浆模塑产品（以下简称"TMFP"）反倾销、反补贴调查的最终裁决。大成律师事务 所高级合伙人孙磊和国际贸易救济团队的葛思聪、陈慧慧、胡杰、杨其铮、向尹岑、李柯柳、肖琳、钟欢及专业会计师、助理会计师，代理中国对美TMFP 出口量TOP2企业广西福斯派环保科技有限公司（以下简称"福斯派"）应诉，获得了反倾销、反补贴全国最低税率。其中，大成客户获得的反补贴税率为 7.56%，与同行业主要竞争对手税率97.82%，全行业平均税率62.66%和美国商务部确定的惩罚性税率319.92%形成巨大税差。与反倾销合并计算税率后，大 成客户获得全国最低税率，是主要竞争对手税率的将近1/8、全行业平均税率的1/5、惩罚性税率的1/14。 在美国对越南纸浆模塑产品反倾销、反补贴调查中，只有两家企业获得了反倾销1.38%、反补贴5.06%，合计6.44%的税率。其中之一，就是孙磊律师团队代 理的中国在越南投资企业Ningbo Changya Plas ...

反补贴终裁结果方面，美国商务部对来自中国和越南的"热成型模压纤维制品"做出了反补贴终裁。众鑫 股份为强制应诉企业，税率为97.82%，中国其他生产商／出口商的税率为7.56%-319.92%。 新华财经北京9月28日电 众鑫股份公告，公司于近日获悉，美国商务部于美国时间2025年9月25日发布 公告，对原产自中国、越南热成型模塑纤维产品反倾销、反补贴调查作出终裁。 反倾销终裁结果方面，美国商务部对来自中国和越南的"热成型模压纤维制品"做出了反倾销终裁。众鑫 股份为强制应诉企业，税率为283.89%，中国其他生产商／出口商的税率为49.08%-477.97%。 众鑫股份表示，美国商务部对原产自中国、越南热成型模塑纤维产品反倾销、反补贴调查作出终裁结果 阻断了该行业从中国出口产品到美国，美国市场的客户将被迫寻找中国以外的供应源，致全球供应链格 局重组。该行业在国内的产能将出现富余，在非美市场上的竞争会明显加剧，对中国纸浆模塑生产企业 造成较大冲击。 众鑫股份称，公司将加大对非美市场的拓展及销售。积极筛选高潜力目标市场，搭建多元化销售渠道， 推进产品在多领域多用途的应用。持续优化产能布局和产品结构，打造适应新形势下 ...

Group 1: Logistics and Transportation - The first multi-modal transport "single document" train from Guizhou carrying 4,320 tons of fertilizer has officially launched, marking the implementation of this transport service model in Guizhou [1] - The China-Europe Railway Express (Shenzhen) celebrated its 5th anniversary, having cumulatively transported goods worth over $30 billion and connecting 47 countries and regions [2][5] - The Guizhou International Cargo Center has achieved a total cargo throughput of 10,700 tons since the launch of the all-cargo flight from Guizhou to Kolkata on December 13, 2023, supporting the development of international air cargo in Guizhou [7] Group 2: Economic Indicators - The total revenue of the national broadcasting and television service industry reached 688.41 billion yuan in the first half of the year, with a year-on-year growth of 5.24% [2] - India's government proposed to reduce the consumption tax on small cars from 28% to 18% as part of a broader tax reduction plan [3] - Spain's trade deficit expanded from 2.543 billion euros in May to 3.588 billion euros in June [3]

Key Points - The Shanghai Composite Index rose by 0.85%, reaching a nearly 10-year high, with trading volume exceeding 2 trillion yuan for three consecutive days [1][2] - From January to July, China's national railway transported 2.331 billion tons of goods, with a daily average of 183,300 cars, representing year-on-year growth of 3.3% and 4.1% respectively [2] - In the first half of the year, China's cold chain logistics market showed steady growth, with total demand for food cold chain logistics reaching 19.2 million tons, a year-on-year increase of 4.35% [2] - The total revenue of food cold chain logistics service enterprises in the first half of the year was 279.94 billion yuan, up 3.84% year-on-year [2] - Beijing plans to establish a hydrogen energy infrastructure network covering the city and radiating to the Beijing-Tianjin-Hebei region, promoting local hydrogen production and utilization [2] - In the first seven months, Jiangsu Free Trade Zone's import and export value reached 336.54 billion yuan, a year-on-year increase of 17.15% [3] - In Sichuan, the industrial added value of large-scale industries grew by 7.2% year-on-year from January to July, with significant growth in the automotive and chemical manufacturing sectors [4] - In Hubei, the total retail sales of consumer goods reached 1,518.587 billion yuan, growing by 6.2% year-on-year, surpassing the national average [4] - The film "The Little Monster of Langlang Mountain" has achieved a cumulative box office of over 1 billion yuan, becoming the first animated film in Chinese history to reach this milestone [5]

Trade Policy - China's Ministry of Commerce extends the anti-subsidy investigation period for imported related dairy products originating from the EU to February 21, 2026 [1] - The anti-subsidy investigation was initiated on August 21, 2024 [1] Investigation Details - The Ministry of Commerce initiated an anti-subsidy investigation into imported related dairy products originating from the EU [1] - The investigation was launched on August 21, 2024 [1] - The extension is due to the complexity of the case [1]

Core Point - The Ministry of Commerce of China has announced an anti-subsidy investigation into imported dairy products from the European Union, citing the complexity of the case and extending the investigation period until February 21, 2026 [1] Group 1 - The announcement is based on the Anti-Subsidy Regulations of the People's Republic of China [1] - The investigation was officially published as Announcement No. 34 of 2024 on August 21, 2024 [1] - The investigation period has been extended due to the complexity of the case, as per Article 27 of the Anti-Subsidy Regulations [1]

Group 1 - The company plans to acquire a total of 30% equity in Thailand Far East by purchasing 10% from Jit Li Trading and 20% from Far East Zhong Qian for a total consideration of 20.4 million Thai Baht [1] - Following the equity transfer, the shareholders of Thailand Far East intend to increase capital by 67 million Thai Baht, with the company contributing 20.1 million Thai Baht at a rate of 1 Thai Baht per registered capital [1] - The total investment, including the equity transfer and capital increase subscription, amounts to 40.5 million Thai Baht, approximately 9 million RMB, based on the exchange rate at the time of the transaction [1] Group 2 - The company signed investment and capital increase agreements with Jit Li Trading, Far East Zhong Qian, and Su Binglong regarding Thailand Far East International Environmental Co., Ltd. [2]

Core Viewpoint - The European Union (EU) is seeking to pivot towards China for cooperation in response to the escalating trade tensions and tariff threats from the United States, raising questions about the sincerity of this shift and its implications for EU-China relations [1][6]. Group 1: EU's Response to US Tariffs - The EU is under significant pressure from the US, which has threatened to increase tariffs on EU goods, leading to a chaotic internal situation within the EU [1]. - The EU has historically aligned with the US in international matters, but the recent tariff threats have prompted a reevaluation of this stance, with China emerging as a potential partner [1][2]. - The EU's attempts to negotiate lower tariffs with the US have failed, resulting in a hardening of the US position and increased tariff rates, which has left the EU in a difficult position [2]. Group 2: EU-China Relations - The EU has been inconsistent in its approach to China, balancing the need for economic cooperation with the pressure to align with US policies, including sanctions against Russia and investigations into Chinese electric vehicles [5][6]. - During her visit to China, EU Commission President Ursula von der Leyen emphasized the importance of deepening trade relations with China, asserting that this is not solely a reaction to deteriorating US relations [6]. - The EU's recent sanctions against certain Chinese entities, while attempting to appease the US, have complicated its relationship with China and may hinder future cooperation [4][5]. Group 3: Strategic Considerations - The EU's engagement with China is seen as a dual strategy: seeking economic benefits while also using the relationship as leverage in negotiations with the US [6]. - China has expressed a clear stance on its expectations from the EU, indicating that it will not tolerate any attempts to manipulate the relationship for US interests [5][6]. - The EU's ongoing balancing act between the US and China could lead to unfavorable outcomes if it continues to waver in its commitments [6].

Group 1 - The Indian Ministry of Commerce announced a modification in the final ruling of the sunset review for countervailing duties on continuous cast copper wire rods imported from Indonesia, Malaysia, Thailand, and Vietnam, changing the taxation method from CIF to Land Value while keeping the tax amounts unchanged [1] - The countervailing duty investigation was initiated on September 10, 2018, and a positive final ruling was made on November 5, 2019, leading to a five-year countervailing duty imposition starting January 8, 2020, with specific rates for each country [1] - The imposed countervailing duty rates are as follows: Thailand 0-3.46%, Indonesia 3.75%-7.94%, Malaysia 2.47%-10.27%, and Vietnam 7.13% [1] Group 2 - On June 29, 2024, the Indian Ministry of Commerce initiated the first sunset review investigation for countervailing duties on continuous cast copper wire rods based on a request from the Indian Primary Copper Producers' Association [2] - A positive final ruling was made on April 4, 2025, recommending the continuation of countervailing duties for another five years with specific rates for each country [2] - The proposed countervailing duty rates are as follows: Indonesia's PT Karya Sumiden Indonesia at CIF 4.98%, PT Tembaga Mulia Semanan Tbk at CIF 3.75%, other Indonesian producers at CIF 7.94%, Malaysian producers at CIF 0 and other Malaysian producers at CIF 10.27%, Thai producers at CIF 3.46%, and Vietnamese producers at CIF 7.13% [2]

Core Viewpoint - The ongoing trade tensions between the US and China have significantly impacted the meat import and export industry, particularly affecting Chinese importers of US chicken feet and pork by-products, leading to substantial financial losses and shifts in sourcing strategies [1][3][18]. Group 1: Impact of Tariffs - Chinese importers like Yan Jun have faced severe losses due to tariffs, with chicken feet prices subject to over 140% in tariffs after multiple rounds of trade retaliations [3][4]. - The initial tariff on pork by-products was raised from 12% to 37% during the previous trade war, severely affecting the profitability of US exports to China [5][6]. - The trade war has led to a significant reduction in US exports, with estimates suggesting a loss of $10 billion annually due to decreased demand from China [13]. Group 2: Market Adjustments - Chinese importers are increasingly sourcing chicken feet and pork by-products from alternative countries such as Brazil and Russia, leading to a rapid adjustment in market dynamics [16][17]. - The price of chicken feet and pork by-products initially spiked by 10% following the tariff announcements but quickly normalized as alternative suppliers entered the market [16]. - The reliance of US meat producers on the Chinese market is highlighted, as they struggle to find alternative customers for their products [12][20]. Group 3: Cultural and Market Insights - The consumption of chicken feet in China is significantly higher than in Western countries, where such products are often discarded, leading to a unique market dynamic [10][11]. - The price of chicken feet varies by country, with US chicken feet priced between $3,000 to $6,000 per ton, while other countries like Russia and Thailand offer lower prices [11]. - The cultural acceptance of chicken feet is growing among Western consumers, driven by the expansion of Chinese cuisine and restaurants abroad [11]. Group 4: Future Outlook - The US meat industry is expected to face ongoing challenges in re-establishing its market position in China due to the lasting effects of the trade war and changing consumer preferences [22]. - The potential for increased competition from countries like Argentina and Spain, which are looking to expand their meat exports to China, poses a threat to US market share [17][19]. - The interconnected nature of the meat supply chain means that disruptions in one area can lead to broader economic impacts, affecting everything from feed prices to consumer costs in the US [14][15].