China in retaliatory mood over textile anti-dumping issue
04 Oct '05
1 min read
How do you react when hit by embargoes and anti-dumping investigations?
And the Chinese will respond with: "Pay back in the same coin."
Recently, the Chinese Ministry of Commerce announced imposition of anti-dumping duties betweeen 7 to 65.2 percent on imported unbleached cardboard for the cowhide suitcases from the US, Thailand, South Korea and Taiwan.
For China, over 600 antidumping cases have been filed by several countries under the purview of World Trade Organization regulations. Hence, Chinese exports have been badly affected.
Sounds retaliatory as it may, China has also set up about 37 anti-dumping investigations against imported goods, wherefrom 22 out of 37 cases attracted anti-dumping duties.
Those industry categories covered under the anti-dumping investigations included 35 items from chemical, electronic, ferrous, light, metallurgy and textile industries.
Last weeks stalemate over the Sino-US textile negotiations may possibly have prompted China to toughen its stance on anti-dumping duties with partner countries.
Meanwhile, economists estimate that China will lose $2-3 billion worth textile business from the US as about 30 types of cotton textiles have been kept under restriction, negotiations for which entered the fifth phase, last week.
marketing@alchempro.com
