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China Continues Imposing Anti-Dumping Duties On US, Japan
(MENAFN- Kuwait News Agency (KUNA))
BEIJING, Oct 15 (KUNA) -- China's Ministry of Commerce announced on Tuesday its decision to continue to impose anti-dumping duties on hydroiodic acid originating from the United States and Japan, for five years starting Wednesday.
According to a statement by China Central Television (CCTV), China introduced the duties on October 16, 2018 for a period of five years as such imports had caused substantial damage to its domestic industry.
The duties will be levied for another five years with a tax rate of 123.4 percent for US companies and 41.1 percent for Japanese companies, reported Xinhua.
This comes at a time when trade friction between China and the US is escalating after the Joe Biden administration imposed 100 percent tariffs on Chinese electric vehicles since last September. (end)
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According to a statement by China Central Television (CCTV), China introduced the duties on October 16, 2018 for a period of five years as such imports had caused substantial damage to its domestic industry.
The duties will be levied for another five years with a tax rate of 123.4 percent for US companies and 41.1 percent for Japanese companies, reported Xinhua.
This comes at a time when trade friction between China and the US is escalating after the Joe Biden administration imposed 100 percent tariffs on Chinese electric vehicles since last September. (end)
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