China Imposes Tariffs on Industrial Acid Imports

In the latest sign of trade tension amid the global recession, China has imposed antidumping tariffs on imports of a chemical used to make nylon from the U.S., Europe and South Korea, says The Wall Street Journal.

 

The newspaper says that China's Ministry of Commerce decided that companies from these three countries are guilty of dumping the organic compound in China and ordered antidumping tariffs of 5% to 35.4% for five years.

 

The decision came just days after officials from the U.S. and China agreed to reduce trade barriers in sectors ranging from agriculture to technology to travel, says the Journal.

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