China Levies Anti-dumping Tax On US, EU Chemicals
BEIJING (AP) â¿¿ China says it will impose anti-dumping duties on two chemicals from the United States and European Union for five years.
The Ministry of Commerce said it ruled that U.S. and EU companies have been selling the chemicals at unfairly low prices, hurting China's domestic industry.
The two chemicals, ethylene glycol monobutyl ether and diethylene glycol monobutyl ether, are widely used in applications such as metal cleansing, paint stripping, dry cleaning and printing.
The ministry said in a statement Friday that it will impose a 10.6 percent duty on those chemicals manufactured by American companies Equistar Chemicals LP and Eastman Chemical Co., and a 14.1 percent duty on those made by Dow Chemical Co. and all other U.S. companies.It said it will levy duties of 9.3 percent to 18.8 percent on the products from EU companies. Trade disputes are common between China and its major trading partners, which often accuse Beijing of illegally subsidizing Chinese companies. Beijing has blamed the weak global economy and protectionism for the disputes. It also has become more assertive in appealing anti-dumping measures against it and in bringing similar charges against its trading partners.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV