The European Community Commission has begun an...

The European Community Commission has begun an inquiry into imports of Asian-made audio cassette tapes, which are allegedly being sold in the 12-nation trade bloc at below market prices. The commission opened the probe after receiving a complaint from the European Council of Chemical Manufacturers Federations on behalf of European producers of audio tapes. The complaint alleges that imports from Japan, South Korea and Hong Kong rose 23% between 1984 and 1987 and that the three countries’ share of the European market had climbed to 71%. The complaint also alleges that the Asian tapes were undercutting prices charged by European producers by up to 28.5%.