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BUSINESS / ECONOMY

China to impose anti-dumping measures on synthetic rubber imports

Beijing, April 19 (IANS) China is set to impose temporary anti-dumping measures on imports of synthetic rubber from the US, the EU and Singapore, the Ministry of Commerce said on Thursday.

The statement said that a Ministry investigation that began in August concluded that US, European and Singaporean vendors of synthetic rubber had set a price 26-66.5 per cent below the cost value, which amounted to dumping, Efe news reported.

“In response to the application of domestic halogenated butyl rubber industry, the Ministry of Commerce issued an announcement on August 30, deciding to initiate an anti-dumping investigation,” the Chinese Ministry said in the statement.

In order to prevent losses to the domestic sector, the Ministry said it decided to impose a tariff on the import of the product, which would vary according to the level of dumping carried out by each company.

The measure, which will come into effect on Friday, is the first of its kind on the product, although it could be followed by other announcements.

–IANS

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