China plans to ban Scrap and Waste imports from US
BEIJING (Scrap Register): United States scrap and wastes has been shipped and dispatched in containers to China from over a decade and now China is on the brink to stop the dumping of waste. Is estimated that a $5 billion annual business that is now in danger of sinking.
China has notified the World Trade Organization July that it plans to ban the import of 24 varieties of solid waste, including types of plastic and unsorted paper commonly sent from the U.S.
With giving American companies little time to prepare, China is looking forward to ban the imports from September. ISRI estimates that roughly a fifth of the trade is at risk.
“In the short term we're going to see a significant drop of exports from the U.S. into China, and there is a little bit of panic in the market,” said Adina Adler, an official at the U.S. Institute of Scrap Recycling Industries (ISRI).