China retaliates against US levy on Chinese tyres

15/09/2009 12:00 - 938 Views

Beijing, Sept 13 (PTI) China today launched anti-dumping and anti-subsidies investigations into automobile and chicken products imported from the US apparently in "retaliation" of President Barack Obama imposing a whopping 35 per cent additional import duty on Chinese tyres.

"China launched anti-dumping and anti-subsidies investigations into some some automobile and chicken products originally produced in the US," the official news agency Xinhua quoted the Ministry of Commerce as saying.

Obama had imposed a whopping 35 per cent additional import duty on Chinese tyres in a bid to protect the domestic market, drawing the ire of Beijing which had described the measure as "protectionist" and violation of WTO rules.

The additional import duty would be in force for three years, however, it would decline by five per cent each in subsequent years.

STAFF WRITER 18:15 HRS IST

Sep 13, 2009

Source: www.ptinews.com