EU threat to impose tariffs against Saudi Arabia and Oman PET ends on withdrawn complaints

The European Union has ended a threat to impose tariffs against PET from Saudi Arabia and Oman as EU producers withdrew complaints about subsidies and price undercutting, as per Bloomberg. The Committee of Polyethylene Terephthalate Manufacturers in Europe, which in January filed unfair-trade complaints on behalf of EU manufacturers against Saudi Arabia and Oman, withdrew the allegations on Oct. 12. The EU closed probes into possibility of Saudi Arabian and Omani makers of polyethylene terephthalate (PET) getting trade-distorting government aid and selling in the Euro 3 bln ($3.9 billion) European PET market below cost, a practice known as dumping.
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